I agree there is something useful about shedding poor customers,...

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02/07/18

11:18

Post #: 34078563
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Originally posted by vboy ↑

@mal85 in I wasn't using Alexa correctly the first time I tried, but have solved that.

One thing which I've discovered with similar web is looking at "portal.afterpay.com" which is the gateway when logging into your afterpay account to make a purchase or access your account.

For example using the May data:

- Traffic = 1,650,000 (up 17%)
- 72% was referrals from other sites = 1,188,000
- 75% of those referrals were from afterpay.com leaving 308,880 hits from actual other sites
- 5% was from the US = 15,444 hits

I'd imagine those hits to be a combination of account creations and actual purchases. I'm not sure how accurate the data is, but tracking that over time, and then comparing it to the company released data would be interesting.

Now that US traffic has leapt over NZ on Alexa, I'd assume these numbers to be much higher in June, which is great.

...

In relation to tracking bad debts, I take onboard the point regarding new and old customers. When I read negative reviews I tend to think some are positive (as an investor). If a very small % of existing customers are declined over time then the model is getting better, and the customer base is becoming more reliable. If new customers can't get accounts or buy anything then the screening systems are working.

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I agree there is something useful about shedding poor customers, but I am just hopeful the board is being realistic about its forecast default margins, recoverability of debt in default and how that is being reported so as not to inflate non-current assets on the balance sheet. It would be easy to be overly optimistic about recoverability only to find you have to sell the debt to a factoring company for 2-3 cents in the dollar and realise a large loss on the asset side.

APT Price at posting: $9.63 Sentiment: Hold Disclosure: Held
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