Nakumatt Holdings is projecting a 30% sales jump this festive season fuelled by growing confidence in mall shopping.
Nakumatt Holdings Managing Director Mr Atul Shah said he had noticed the gradual recovery after confidence dropped to “worrisome” levels due to among others,terror attack on its westgate branch.
Speaking when he officially unveiled the retailer’s Kshs 20million Christmas rewards programme, dubbed the Nakumatt Christmas Bonanza, Mr Shah disclosed that further growth was expected to be realised from the firm’s ongoing expansion plans such as last week’s opening of Nakumatt Bamburi-its 52nd branch.
The high volume purchase of gift vouchers by local corporates, individuals and non-governmental organisations for their festive season reward schemes is also expected to fuel Nakumatt’s growth during the festive season that runs through to late January 2015.
“At Nakumatt, we are anticipating positive growth of up to 30% beginning November to late January next year as we are witnessing a steady footfall growth across our branch network,” Mr Shah said. “Since mid-April, we have noticed a footfall recovery particularly in the major shopping malls which had earlier dropped to worrisome levels,” he added.
As part of the Nakumatt Christmas Bonanza customer reward programme, shoppers at Nakumatt stand a chance to win prizes valued at more than Kshs 20million during this festive season. The programme carries a Ford Kuga Sports Utility Vehicle grand prize with five Ford Figo cars also up for grabs among others.
Globally, the National Retail Federation in its Gift Card Spending Survey, is forecasting that the average person buying gift cards this Christmas season, will spend $172.74, up from $163.16 last year. Total spending is expected to reach $31.74 billion. In the survey conducted last month, NRF established that 62 percent of shoppers said they would like to receive a gift card, making gift cards the most requested gift item eight years in a row.
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