Kogan will give each of its staff members a $500 bonus as the purely online retailer emerges as a rare beneficiary of the coronavirus pandemic | domp
Kogan will give each of its staff members a $500 bonus and set about hiring additional team members, with the online retailer left relatively unscathed by the coronavirus pandemic., chief executive Ruslan Kogan reassured staff there would be no COVID-19 redundancies or pay cuts, and that the business would continue to hire throughout the virus period.Josh Robenstone
"Thanks in no small part to your incredible effort, our business has been able to weather this storm," the chief executive told staff.Kogan's decision to bolster its hiring and reward staff is in sharp contrast to the actions of many fellow ASX-listed retailers, which have been forced to shut stores and stand down thousands of staff because of the coronavirus.
Online sales have been booming across the broader retail sector, increasing 14.5 per cent in February according to data from National Australia Bank, while warehouse and supply chain consultancy TM InsightAt the beginning of the coronavirus outbreak, Mr Kogan waswhere the company sources its private-label 'Exclusives' range, sales of which contribute to around 50 per cent of Kogan's gross profit.
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