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well, if you are right Simms then CC is the best person with her experience to keep an eagle eye on it and respond accordingly.
Actually personally i think Eve has over cut its marketing. If you search for competitors i cant see Eve sleep appearing. They have cut marketing to the bone. All i know from similar research is the Eve hybrid mattress are selling well and there is limited discounting. Emma on the other hand is going overboard on discounts to maintain growth and competitiveness as Eve are holding their own and might be slowly creating a more premium proposition. All these things change slowly but looks promising for bottom line as we have now had 8 months of positive marketing contribution so that is good for shareholders fedup and discounting and spending on marketing. My worry is slightly they have gone too far in the opposite direction.
French interest in Eve has picked up over the last 5yrs and seems to be gaining momentum:
?https://trends.google.com/trends/explore?hl=en-GB&tz=-60&date=today+5-y&geo=FR&q=matelas+eve+hybrid&sni=3?
the challenge for EVE is to get to a critical mass of sales. As I have said before it is very expensive to be an online company. The cost you pay to the googles of this world is basically extortionate so EVE will have cut back on that aspect as well as working much harder on review sites because , as can be seen even on this board, there is a willingness to believe that these reviews are genuine, so its free advertising, which if you come from a marketing background is very tempting.
CC obviously recognises this and wants to build the brand image because that's the way you get to and beyond breakeven with sales without having to effectively "buy" the business through advertising which is the recent history.
That's why its "inches not yards". So Eve is still going uphill, but once the profit starts then it should accelerate disproportionately.. The one area I know little of, but a bit, is the French market. again, very disjointed and ripe for a big brand to overwhelm many, many smaller suppliers. I would like to hear more about how EVE are doing there and am encouraged that they recognised that market initially and when the pullback came, stayed with a presence in France.
If June (and maybe May,) actually traded profitably with no caveats, then that would be a substantial, substantial goal achieved.
I hope so DG, because it would be helpful to actually have numbers to, if not crunch, then at least get a feel for the sense of travel
Sadly, Trust Pilot is just a protection racket.
Wyndrum, you are somewhat correct with your statement: 'remember, over the last 2 years EVE has sacrificed sales turnover (ie selling less beds)' – but we only know that to be true up to April. Even before April, Eve was teetering towards a profit on some measures. Possibly lower and certainly definitely more cost-effective marketing during lockdown could well have been coupled with greatly increased sales.
We are constantly told that sp looks forward and (good) May June are probably better guides to the future than what was happening a while ago. Just a few days to wait now..
This is an interesting article on TP reviews. It does support the theory that SOME companies did / do manipulate the figures, Yell (as in Yellow Pages) especially.
But can you imagine the stink if Eve were actively doing this? It'd be bound to get out sooner or later, as it did with Yell. Just not worth the reputational risk in my opinion. Eve does sound to have switched from the free service to the paid service during the recent past, I would guess.
https://www.seotraininglondon.org/can-you-trust-trustpilot/
When we bought our Eve original over 2 yrs ago, no one asked us to give a TP review. Nowadays Eve actively asks for TP reviews, and since CC took charge Eve give replies to reviewers. TP has also become more more popular in itself. I give more TP reviews these days than I gave 2.5 yrs ago and it's conceivable that I'm not alone.
Thanks Lemming for the stat that ' 9% of their total ever reviews, ... achieved in 10 weeks': I think that must be significant..
A very interesting post there lemming Thankyou for the information I assume your a holder here
Let’s see if it backs up the results next week, and this company can start moving forward
I assume we are all adults here and happy to have placed cash here
I was over on vls a month or so ago and there we had a very similar poster threre who freightend off one or two people with constant neg posts, who then missed out on a 5 bagger
There’s always the filter button
you all know my views on trustpilot and remember, over the last 2 years EVE has sacrificed sales turnover (ie selling less beds) as a result of a drastic reduction in marketing spend. So I think it odd that there are more reviews than ever on reducing sales.....
Thanks Lemming for a fascinating addition to this saga. Another positive benchmark. Although I'm sure our resident risk averse compatriot will still see this as circumstantial
I've been keeping stats on the number of Trustpilot reviews for Eve. I keep a record sometimes weekly, sometimes fortnightly, sometimes monthly. My spreadsheet is now up to 348 days of data.
There are some very interesting trends. For example the average daily number of reviews by 3rd Feb '20 was 2.68. It hadn't gone higher than 3 up to that point (since I started gathering data 3 Aug '19)
The interesting trend is that this average across nearly a whole year is now 4.82 per day.
The most recent data set is an average of 11.6 per day over the last 10 days. It's more normally been in the 4 to 7 range these last few months.
Now looking at reviews doesn't give the whole picture, but I would argue it's one of the best data points we've got. (as well as the results from competitors and others leaving the industry, and footfall down in retailers).
There were 4.35 a day by 30 April. At this point Eve were burning £100k per month to meet their growth goals. Since that point they've had another 497 reviews. (this is 9% of their total ever reviews, and achieved in 10 weeks)
As Eve grow, and seem to grow consistently. As long as they tread carefully on discounting, and marketing spend per lead and per converted lead, there will be a point at which they sell one more mattress and make £100 profit on that one.
I'm sure they know how many they need to shift in a year to get to this magic and profitable mattress.
All I can say is that they're closer to selling it than they were a couple of months ago.
I'm not sure that they'll get their maiden profit this year, but on the day they do I don't think I'll get much of the day job done. If they were to sell that first profitable mattress on Dec 31 that would be fantastic.
I think it's more likely that it will be sold in late 2021. But imagine if they got the marketing mix right and sold it by Sept 30th 2021. Hopefully CC and AnalogFolk (37th largest agency in UK in 2019) know what they're doing.
Roll on weds 22.