How has COVID-19 changed the business and in what ways have you had to react and adapt to the restrictions over the last 12 months?

We had to adapt on a creative level so that during the period when there were no races, we could continue to stay in users minds, you have to bear in mind that MotoGP Store products are not staples and our business is closely related to the excitement of the championship. Regarding COVID's restrictions, the most important ones have been the GP races without spectators, a factor that favours us, and the user's initial uncertainty of receiving packages and so on during the first phases. Once racing resumed, the growth was very significant (400% sales), but on the other hand, procurement and some stages of the value chain have been affected.

 
Is there anything you plan to change in terms of commercial strategy once the pandemic is over?

During the tighter COVID-19 restrictions and given that our product is emotional and not necessary, we did notice less activity in the market, but looking ahead, we will have to adapt to the new global normal and continue to innovate in our marketing strategies. We have planned some changes for 2021 that are confidential, but we have some big news for this new season. During the pandemic we have connected with and learned from the consumer, gathering a lot of valuable information that allows us to implement new strategies for 2021. One of the most important insights we have been able to extract is that users have normalised online shopping and our audience has grown.
 

Races have been a place where you could normally sell merchandise to the public. With the COVID-19 restrictions, this has not been possible. Have you had to readjust your sales strategy and/or look for new sales channels?

The lack of public at the championships is a factor that benefits MotoGP Store, as we are the main online showcase for rider and team merchandising and the MotoGP universe, so any user looking for our product tends to go to our online shop first. In addition, we have always guaranteed an excellent user experience from all points of view of the customer journey. On the other hand, we have not expanded channels for strict COVID-19 reasons, but we have done so for strategic reasons that have nothing to do with the pandemic. What we have had to do because of COVID-19 is to put more effort and work more on the current channels, as all the competition has had to push to increase market share.

 
ENDS

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