31 October 2022, Mumbai:
For the second quarter Shoppers Stop had 40 per cent more customers than it did pre-covid. The department store saw strong sales driven by footfalls as well as eyeballs online.
Categories that have seen a good surge are Indian wear, home, and men’s wear, especially suits and jackets. Gifting as a category with things like watches also saw good growth. So there was a multi-category growth across Shoppers Stop stores. Shoppers Stop’s income increased by 43 per cent for the second quarter.
The momentum from last year and the first quarter of this year continued for the department store chain. Customer sentiments were reflected in footfalls, average selling price, and average transaction value.
The continued improvement in customer experience, engagement, and improved data analytic capabilities provided the retailer the competitive edge to remain ahead of the curve. The retail chain has also forayed into distributing international beauty brands with exclusive rights in India. This will enable it to bring newer brands in the country, further enhancing its strong presence in beauty.
The first full-fledged festive season after the pandemic has been celebrated with great joy and enthusiasm. For retailers, festive sales can make all the difference and by all accounts, it seems to have been a great festive season.
