Shoppers Stop reports 20 percent increase in festive sales
today Nov 8, 2018
Shoppers Stop saw an almost 20 percent year-on-year increase in sales over the course of Durga Puja and private label sales also increased to 14 percent of the business’ total revenue during the sale.
Shoppers Stop reported same-store sales growth thanks to strong demand over the Durga Puja sale, especially in eastern India. The online fashion marketplace saw an almost 20 percent year-on-year rise in sales fuelled in part by special fashion promotions.
The business has been pushing its private fashion labels and this appears to have paid off as it reported that they accounted for 14 percent of total sales, up from ten percent of total sales in this year’s second quarter. Private labels offer higher profit margins and so many online retailers are embracing them for growth. The business has followed its Durga Puja promotions with an ongoing Diwali campaign.
Shoppers Stop currently has a network of 258 department stores comprising 4.27 million square feet of retail space in 38 Indian cities. The business is pursuing an omni-channel strategy and is also expanding its branded beauty segment to respond to the growing demand and increasing beauty market in the country.
The business currently has plans to open three more Shoppers Stop retail outlets and 10 beauty stores. Shoppers Stop is also rolling out its kiosk and experience centre model from its Mumbai and Bengaluru stores to other locations. Personal shopper services will also be expanded from the current nine cities in which it is available.
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