Driving growth through reader-centric approach: Libris achieves 20% revenue growth, reaching RON 80 mln in 2023

Libris, a leading online bookstore in the Romanian market, closed 2023 with a turnover of RON 80 mln, representing a 20% increase compared to 2022. This positive momentum was driven by the growing interest of readers in English-language books (+30%), where Libris diversified its offerings to over 780,000 volumes.

Additionally, the company intensified its efforts to continuously enhance the browsing experience on its website. The development of interactions with readers, including the creation of various offline and online cultural events and experiences, as well as investments in technology to support a superior online experience, were the key drivers of growth last year.

In 2023, Libris.ro sold over 2.5 mln products, with an average order value nationwide of RON 125. "Children's books" dominate the top of the categories in all counties, followed by Fiction. Interest in English-language books remains high, with a 30% increase recorded in 2023.

Investments made in recent years, both in the book warehouse in Brasov, with a total area of 5,000 square meters, ensuring a permanent stock of 1 million volumes, and in the budgets allocated by Libris for enhancing reader experience - from faster delivery and a wider range of stock, to AI-supported personalized recommendations or cultural interactions within online or offline events - have led to a 20% growth in business in a socio-economic context that does not necessarily encourage book consumption. Therefore, Libris' turnover exceeded RON 80 mln last year.

"Fast delivery, personalized and plastic-free packaging, along with the recommendations we provide based on our readers' preferences, are priority actions for us, the effects of which we see in the increased recurrence and loyalty of our customers. Additionally, we are partners to parents and educators who value reading and continually undertake actions to bring young readers closer to books," stated Laura Țeposu, CEO of Libris.

Growth Strategy: Refining the Reading Experience

In a context where we allocate increasingly more time to social media networks and online video consumption, Libris proposes books as an alternative for spending time, for learning, information gathering, etc., and emphasizes refining the website experience and diversifying the offerings with current volumes available extremely rapidly.

Investments in technology enable Libris to provide visitors with personalized reading recommendations and a search engine specifically developed for books. Additionally, the "Browse" functionality, available for over 90% of the titles in Romanian on Libris.ro, allows visitors to read a few pages from each volume, just as they would in a physical bookstore. This option is utilized by 70% of visitors before placing a book in the shopping cart.