Retailers seek new ways to boost sales
With the cost of living going up every day, consumers have now resorted to buying what they can only afford.
This has resulted in the slow sale of some products like designer clothes. As a result, retailers have gone back to the drawing board to strategise on how to boost sales and cut losses.
A case in point is Woolworths Kenya Ltd, which unveiled a partnership with AFB, a firm that focuses on providing credit products for consumers in Africa.
The partnership will see AFB manage Woolworths Private Label Card Programme, which will enable Woolworths customers purchase products on debit and pay it off in six monthly installments.
“This partnership is part of Deacon’s wider brand’s strategy to penetrate the market,” said Woolworths chief executive Muchiri Wahome.
Last month, Nakumatt unveiled its global card in partnership with MasterCard as it seeks to replace its smartcard.
Under the programme, shoppers will be able to deposit and withdraw cash from the supermarket’s teller points using the card. Besides, it will enable customers to pay bills and tally the loyalty points at the same time.
Nakumatt also unveiled a Sh200 million blue label products venture to rope in customers.
“These products are manufactured expressly for Nakumatt thus enabling the manufacturers to cut unnecessary production and distribution costs. The savings accruing are subsequently passed onto our shoppers by way of lower shelf prices,” said Atul Shah, managing director, Nakumatt Holdings.