NetworkNewsBreaks – Mohawk Group Holdings Inc. (
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Posted On: 03/26/2021 5:53:49 PM
NetworkNewsBreaks – Mohawk Group Holdings Inc. (NASDAQ: MWK) Achieves Significant Growth Amid Spike in Online Purchasing
Mohawk Group (NASDAQ: MWK), a consumer products platform, has benefitted from the spike in remote access purchasing due to the COVID-19 pandemic, reporting that its sales revenue increased by over 60%. “Mohawk principally leverages its proprietary technology as a third-party seller on Amazon and grew sales revenue from $88.8 million to $144.2 million [62.4%] during the first nine months of 2020, reported in its most recent quarterly filing,” reads an article detailing the growth. “Amazon captured nearly a third of the online market share, with sales growth of 54% during the final quarter of the year. Mohawk’s position as a third-party Amazon seller allows it to ride on the commerce giant’s coattails. The company’s Artificial Intelligence Mohawk E-commerce Engine (‘AIMEE’) helps it identify market opportunities then design, develop and launch products from its stable of 12 brands in categories including kitchen, home and environmental appliances, beauty products and consumer electronics. Mohawk also sells its AIMEE software to other online sellers, granting the company revenue with high margins and a huge market opportunity… The platform’s Fulfillment Engine helps to guide inventory location, cost optimization and use of third-party networks to cut shipping times.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
Mohawk Group (NASDAQ: MWK), a consumer products platform, has benefitted from the spike in remote access purchasing due to the COVID-19 pandemic, reporting that its sales revenue increased by over 60%. “Mohawk principally leverages its proprietary technology as a third-party seller on Amazon and grew sales revenue from $88.8 million to $144.2 million [62.4%] during the first nine months of 2020, reported in its most recent quarterly filing,” reads an article detailing the growth. “Amazon captured nearly a third of the online market share, with sales growth of 54% during the final quarter of the year. Mohawk’s position as a third-party Amazon seller allows it to ride on the commerce giant’s coattails. The company’s Artificial Intelligence Mohawk E-commerce Engine (‘AIMEE’) helps it identify market opportunities then design, develop and launch products from its stable of 12 brands in categories including kitchen, home and environmental appliances, beauty products and consumer electronics. Mohawk also sells its AIMEE software to other online sellers, granting the company revenue with high margins and a huge market opportunity… The platform’s Fulfillment Engine helps to guide inventory location, cost optimization and use of third-party networks to cut shipping times.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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