Consumer Discretionary: Online retailers – Volume III
In these series of videos Liberum's Consumer Discretionary Analysts, Wayne Brown and Tom Musson, look at the online space which offers good value now that intrinsic values are, on average, 1.2x current enterprise values in the market. They highlight deep value at Zooplus, in particular and favour those who optimise their LTV:CAC spreads to drive growth, and where sales retention rates and year 0 churn is improving. They have concerns at ASOS. Home24 and Westwing are also facing their own challenges. Click here to read the latest research. Click the image below to watch the videos.
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