But Company & Revenue
Main Country Selling to
FranceMain Category
Furniture & HomewareRevenue (GMV)
2025Global Rank
2025Growth
2025 / 2024
E-Commerce Market Intelligence
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But Revenue & Forecast
But Revenue, Sales & Forecast
- But's e-commerce revenue reached US$387m in 2025.
- But's annual sales changed +4% year over year in 2025.
- In 2024, But's e-commerce revenue was US$374m.
Annual Revenue (GMV)
2025Forecast
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Explore ProfilesE-Commerce Revenue (GMV in Million US$)
Forecast
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Discover Analyze & CompareBut Monthly Sales & Revenue Development
- But's monthly e-commerce sales reached US$27m in 10/26.
- But's monthly sales changed -4% versus the previous month in 10/26.
- Across 2025, But's e-commerce revenue totaled US$387m.
Revenue Current Month (GMV)
10/26Compare with Other Retailers
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Discover Analyze & CompareE-Commerce Revenue (GMV in Million US$)
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Discover Analyze & CompareBut Top Stores by Revenue
- but.fr is But's largest store at US$387m in France, a +4% change versus 2024.
| # | Store | Main Market | GMV 2025 | Growth 24/25 |
|---|---|---|---|---|
| 1. |  but.fr | US$387m | +4% |
But has only one top store, so there are no other stores to compare it with in this table.
But Sales by Country
But Competitors
But's biggest store but.fr, at US$387m GMV, is most similar to conforama.fr at a 89.6 Match Score, ahead of songmics.fr at 89.3 and veepee.fr at 87.7.
But Competitor Landscape
- conforama.fr is the store most similar to But's biggest store at a 89.6 Match Score, with US$0.4bn GMV.
- songmics.fr ranks next as a similar store at a 89.3 Match Score and US$0.3bn GMV.
- veepee.fr follows at a 87.7 Match Score and US$2.6bn GMV.
But's Biggest Store vs 5 Closest Stores
Total GMV 2025 (in US$ billion)
How We Define Competitors
The competitors here are generated with the Competitor Finder, which scores each store against its competitors on a Match Score. With the Competitor Finder you set your own Match Score from a range of similarity dimensions and refine it with filters, so this view is one example configuration and may not match how you define competition.
Discover Competitor Finder for More DetailsTop But Competitors & Similar Stores
- conforama.fr tops the stores most similar to But's biggest store at a 89.6 Match Score and a US$203 AOV.
- songmics.fr is a close alternative at a 89.3 Match Score and a US$115 AOV.
- veepee.fr follows at a 87.7 Match Score and a US$81 AOV.
Compare Now
Tick stores, then compare them side by side.
| Compare | # | Store | Match Score | GMV 2025 | Purchase Freq. 2025 | AOV 2025 |
|---|---|---|---|---|---|---|
| but.fr | US$387.1m | N/A | US$190 | |||
| 1. | 90% | US$400.0m | 1.5 | US$203 | ||
| 2. | songmics.fr | 89% | US$299.9m | 1.7 | US$115 | |
| 3. | 88% | US$2,599.2m | 3.1 | US$81 | ||
| 4. | 87% | US$490.7m | 2.5 | US$95 | ||
| 5. | 83% | US$365.7m | N/A | US$232 |
But Customer Demographics
At but.fr, But's biggest store, 6% of shoppers fall in the 18-to-24 age group and 38% sit in the low income group.
But Customers by Age & Income
- 6% of But shoppers fall in the 18-to-24 customer age group.
- 38% of But shoppers sit in the low income group.
- The age and income splits cover shoppers of but.fr, But's largest store.
Breakdown by Age Group
Breakdown by Income Group
But Conversion Rate & Transaction KPIs
But converts visits at a 2.3% conversion rate in 2025, generating 2,041,913 orders from N/A buyers at a 2.4 purchase frequency.
Conversion Rate
2025Number of Orders
2025Purchase Frequency
2025But Average Order Value
- But's gross average order value (AOV) is US$188.07 in 2025.
- Discounts of US$20.89 and returns of US$9.21 took But's net AOV to US$157.97 in 2025.
- After US$31.59 VAT, But's final AOV was US$189.57 in 2025.
Average Order Value Calculation in 2025
Net AOV (before deductions)
Discounts
Returns
Net AOV (after deductions)
VAT
Gross AOV (after deductions)
But Monthly Number of Orders
- But recorded 125,005 orders in 10/26.
- Across 2025, But recorded 2,041,913 orders in total.
Number of Orders
10/26Compare with Other Retailers
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Monthly Number of Orders (in Thousands)
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But Monthly Number of Buyers
- But had 66,535 buyers in 10/26.
Number of Buyers
10/26Track Monthly Momentum
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Monthly Number of Buyers (in Thousands)
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But Monthly Purchase Frequency
- But shoppers ordered about 1.9 times in 10/26.
- Across 2025, each But buyer placed 2.4 orders in total.
Purchase Frequency
10/26Compare with Other Retailers
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Monthly Purchase Frequency
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But Monthly Gross AOV After Deductions
- But's monthly gross AOV was US$215.8 in 10/26.
- For 2025, But's gross AOV before deductions was US$188.07.
Gross AOV
10/26Track Monthly Momentum
Track But's full monthly history to spot momentum and seasonality.
Monthly Gross AOV After Deductions (in US$)
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Track But's full monthly history to spot momentum and seasonality.
But Marketplace 1P vs 3P Split
But generated US$387m in total Gross Merchandise Volume (GMV) in 2025, of which 0% comes from third-party sellers and the rest is first-party net sales plus VAT. All in one standardized GMV, so 1P, 3P and hybrid models compare like for like.
But GMV Composition Over Time
- But's total GMV reached US$387m in 2025.
- But's 1P net sales were US$323m, plus US$65m VAT on 1P, in 2025.
E-Commerce Revenue Split by 1P & 3P (GMV in Million US$)
Making 1P, 3P and Hybrid Comparable
Different business models are measured differently. First party retailers are assessed on net sales, while third party and hybrid models are measured on Gross Merchandise Volume (GMV), the total value of transactions processed through the retailer. To rank them on one basis, we standardize every retailer onto a single total GMV, whatever its business model.
But Product Categories
Furniture & Homeware is But's biggest product category in 2025 at 58%, ahead of the next-largest categories in the full breakdown of what it sells.
But Revenue Breakdown by Product Category
- Furniture & Homeware is But's largest product category at 58% of 2025 sales.
- Electronics is But's second-largest product category at 18% of 2025 sales.
- DIY is But's third-largest product category at 12% of 2025 sales.
Revenue Share by Category in 2025
| # | Category | Share 2025 | Further Breakdown | |
|---|---|---|---|---|
| 1 | 58% | |||
| 2 | 18% | |||
| 3 | 12% | |||
| 4 | 10% | |||
| 5 | 2% |
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Every metric on this page plus markets, categories and shoppers in one view.
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