2021 was a very positive year for Falabella. We are making decisive progress implementing a new business model that will improve our customer understanding and their satisfaction, and help us to develop direct, personalized and long-term relationships with them. We are rapidly digitizing the company, by creating common platforms for various key departments that will support our customers and contribute to Falabella’s ecosystem and that of its suppliers.
We have achieved significant progress this year, which has resulted in very good sales, cash flow creation and earnings. We have been transformed from being a traditional retailer with a digital product range, to one capable of operating almost entirely online, using our stores and branches as a major differentiator from our competitors. We had been modernizing the company at a gentle pace, but have now been transformed into a young energetic company with agile decision-makers who constantly question and challenge. In fact this transformation is still progressing, and we are very excited and committed to the company's new direction.
Earnings for 2021 reflect the tremendous achievements of our teams, of thousands of people who did things differently, who adapted and succeeded in captivating our customers. After a succession of political and public health crises, Falabella is no longer the same. We have been rejuvenated, with greater strength, expectations and energy. We are convinced that we are creating something unique that is valued by our customers. We aim to become a company that gives all of us pride.
Undoubtedly, the growth in sales was driven by dynamic consumption as a result of the financial support provided in various countries and the savings that people spent to survive the pandemic. This effect is moderating as the pandemic becomes a regular feature of our lives and the elimination of stimulus in a restrictive macroeconomic environment.
This year reminded us once again that the stable world we once knew has definitely changed. Certainty has disappeared. This is evidenced by the accelerating pace of the technological revolution, and the pandemic with its effects on health, our way of life and the economic consequences for people. We live in a world that is more politically conflictive than we had imagined, with geopolitical divisions of many kinds, resulting in a more polarized and changing environment. But as people have journeyed through time, and particularly at our company, they have demonstrated resilience and a remarkable ability to adapt. Our challenge is to continue our transformation to achieve a powerful, differentiated and valued ecosystem. We are striving hard to adapt to new circumstances each year, as we have done in the past.
The substantial earnings achieved in 2021 do not change our urgency, there is no time for complacency. On the contrary, we are accelerating the revolution caused by the digitization of commerce and financial services. Our objective is to maintain our leadership within this environment. This year served to strengthen us, to secure the resources we need for the future. We have spent years investing and digitally transforming ourselves to become leaders not only in physical stores, but also in digital stores.
Our strategy has been focused on implementing and operating a retail marketplace, with a digital wallet, by creating distinctive platforms in logistics, loyalty incentives, customer knowledge, etc. All these platforms are available to our retailers and sellers and to our banks and financial services. We believe that this marketplace strategy, together with these common platforms, is the that best responds to the current times. We launched the falabella.com marketplace in 2021, which is still being implemented and is only just beginning to receive the functionalities required for its success.
We are creating an ecosystem that is scalable and flexible, that will allow us to grow rapidly in the future and that will be increasingly attractive to customers and suppliers. Therefore, we are focused on expanding our digital customers, using the differentiation provided by our physical stores and our pool of own and exclusive brands. We are already harvesting the first fruits. Our e-commerce sales have grown rapidly, along with an increase in third-party sales. Our financial transactions covering new current, sight and credit accounts and consumer loans are becoming almost completely digital. The redemptions within our loyalty incentives are also becoming mostly digital.
We want to maintain a direct relationship with our customers, to understand them and support them in their daily duties and requirements. They are our greatest asset and keeping them is our principal future challenge. Our understanding of their desires has kept them loyal over the decades. This has been the focus of our investments in data intelligence, our CMR Puntos loyalty system and our logistics on proprietary platforms, but leveraged through business partners.
We will continue to focus on improving the operational efficiency of our businesses in order to remain efficient and price competitive. We will continue investing and expanding the platforms used by all Falabella group companies, marketplace, CMR Puntos loyalty system, financing system, Fpay e-wallet and logistics capabilities. We will pursue state-of-the-art technology with the support of our digital factories and our office in India.
We have redoubled our commitments to significantly and decisively strengthening these common ecosystems in recent years, and especially in 2021. The Falabella transformation is complex and requires patience and commitment. It requires many talented people and a more agile and decentralized business. This path has its share of difficulties and obstacles, but our progress and achievements are disclosed in this Report and they confirm that we are moving in the right direction, which renews our energy.
We want to be the employer of choice for the new generation, an attractive place to work, to thrive and to enjoy a balanced life. This new era requires that we understand not only the consumer, but also our employees. These days people are asking for flexibility, equal opportunities and a purpose from their employer. At Falabella we are determined to meet those requirements.
We are responding to these challenges, in order to continue building a sustainable company. We will continue to focus on being meritocratic and inclusive, on our concern for the environment and becoming integrated into local communities, while building close relationships with our employees and suppliers, especially with SMEs. This year we were once again voted the fifth best retail company in the world by the DJSI index.
I would like to thank all our employees for their creativity, strength and commitment. I would like to thank our board of directors and executives for their dedication, enthusiasm and support. I would like to thank our shareholders for their confidence in our company.
We have reached a historic moment for our company and trade in general. I am convinced that we will be one of the winning companies after this remarkable revolution. We will maintain our leadership across the region and the preference of our customers over the long-term.
Carlo Solari Donaggio
Chairman