Best & Less has reported 'record sales' for the end of November. The retailer has recorded an increase in online sales by 80 percent YoY, with e-commerce sales growing 50 percent from FY17-20.
In the report from Best & Less, the last 12 months has generated a total sales revenue of $629 million, with YDT LFL growth of 13.5 percent.
Furthermore, online sales have increased to $57 million, which represents 9.1 percent of total sales. The online sales are up 80 percent compared to 2019.
“Our performance over the past year is a huge achievement for our team, particularly given the unforeseen challenges of COVID, and is further proof of the successful transformation at play for our Best & Less and Postie brands, which started over five years ago,” said Rodney Orrock, the CEO of Best & Less Group.
“While the business was experiencing strong sales before the pandemic, it has provided a strong tailwind as customers increasingly focused on value. We’re thrilled to be recognised as one of Australia’s top 10 most trustworthy brands during COVID times, and believe consumer demand for our proposition of ‘twice the quality at half the price’ is here to stay.”
According to the report, all 246 stores remain profitable. Best & Less has further been reported as one of the ’10 Most Trusted Brands’ in Australia.
The retailer has also recently launched its Click & Collect offers to its 1.5 million loyalty club members.
“Family is at the heart of everything we do and the year 2020 gave retailers a unique opportunity to connect better with their customers in a number of ways. For our business, this included an upgraded loyalty program, creating a stronger customer care function and putting more investment into our digital presence and omnichannel strategy – online sales are up 80 percent versus last year,” shared Orrock.
“Our transformation continues apace and our team is ready and able to leverage the global industry tailwinds in favour of trustworthy, value-oriented retail brands offering consumers greater flexibility in how, where and when they shop in a post-COVID environment.”