Q1 2022 Boozt AB Earnings Call Transcript
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Thank you, and welcome to our Q1 2022 conference call on this beautiful sunny morning here in Malmö, Sweden. So if we move on to the first slide, the key highlights. And just to start with, we'll say that we are very encouraged to see that the execution of our Nordic Department Store strategy continues the very positive momentum. Our categories are getting stronger for each season. And we believe that we are well underway to create the preferred destination for customers of Nordic fashion lifestyle.
The underlying business drivers are all showing improvements with the cohorts from 2021 increasing the true frequency compared to the 2020 cohort. Our return rates have stabilized at a low level, and this is thanks to a diversification of categories and not least our unique fair use concept to limp fraud and abusive return behavior. And last but not least, the average order value has continued to increase, supported by more items per baskets. Growth in the quarter was 25.2%
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