Kogan.com's (ASX:KGN) loyalty program grows as gross profits increase

Kogan.com reported results for the third quarter of FY24, noting continued profitability and growth in its loyalty program, Kogan FIRST.

The program now boasts over 472,000 subscribers, up 16% year over year.

CEO Ruslan Kogan emphasised Kogan FIRST's importance, calling it the "north star" for the business, delivering significant value to loyal customers.

Despite a 6.2% decrease in gross sales to $178.3 million, attributed to a strategic shift and reduced inventories, Kogan.com saw a 13.8% increase in gross profit to $39 million, with an improved margin of 36.8%.