V2 Retail to bolster online presence, expects strong Eid sales
V2 Retail aims to tap into its customers’ growing demand for e-commerce by expanding its presence online and is confident that this Eid festive season will yield strong sales following the challenges of Covid-19.
V2 Retail aims to focus on online expansion to increase its proportion of its overall sales without impacting the business’ overall profitability, the business announced in a press release. In order to achieve its goal of 5% to 10% of its total sales coming from online purchases this fiscal, the business has implemented a number of online-only promotions and online focused marketing.
“Both FY 21 and FY 22 were impacted adversely due to Covid and related restrictions,” said V2 Retail’s director Akash Agarwal in a press release. “Though we saw improvements in FY 22 as compared to FY 21, however, the same was below expectation. There was a sense of fear among the people due to the emergence of subsequent Covid waves. We have geared up our process to take maximum advantage of the changing scenario and are expecting substantial pick-up in demand with onset of wedding season and Eid in April end - May 2022.”
Expecting an untick in sales at Eid, the business is strengthening its supply chain. “The expectation of a normal monsoon will also have a positive implication on the sale volumes in coming quarters,” said Agarwal. “We expect the wedding season to be good especially considering the postponement of weddings due to Covid restrictions.”
Copyright © 2022 FashionNetwork.com All rights reserved.