Nakumatt projects 30 percent growth in festive season
04 December 2014, 22:56
Nairobi - Regional retailer, Nakumatt Holdings, is projecting a 30 percent sales jump this festive season, largely fueled by the steady rekindling of mall shopping confidence.
“The confidence of mall shoppers had for the better part of the year slowly dropped to worrisome levels due to a number of factors, but is now showing positive recovery,” said the company’s managing director Atul Shah in a press statement.
Speaking when he officially unveiled the retailer’s KES 20million Christmas Rewards programme, dubbed the Nakumatt Christmas Bonanza, Shah disclosed that further growth is also expected to be realized from the firm’s ongoing expansion plans such as last week’s opening of Nakumatt Bamburi-its 52nd branch.
Also read: Safaricom
launches advanced 4G network
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 percent beginning November to late January next year as we are witnessing a steady footfall growth across our branch network,” Shah said.
“Since mid-April, we have noticed a footfall recovery particularly in the major shopping malls which had earlier dropped to worrisome levels,” Shah added.
The growth of Nakumatt Gift Voucher business over the festive season has been attributed to its convenience as an easy to administer gift among a corporate clientele.
“Already, we have received significant orders for medium to high value Gift Vouchers from a number of local banking and consumer companies who in turn distribute the same to their valued staff members and clients,” Shah said.
Disclaimer: All articles and letters published on MyNews24 have been independently written by members of News24's community. The views of users published on News24 are therefore their own and do not necessarily represent the views of News24. News24 editors also reserve the right to edit or delete any and all comments received.