Online channel key growth driver.
Shaver Shop has reported like-for-like sales growth of 9.2% for the FY20 period to 28 October 2019, with online sales a key driver for the business.
Shaver Shop CEO and managing director, Cameron Fox said, “We are pleased with the start to the year with very good progress made on several of our growth initiatives. Our omni-retail investments are containing to drive strong sales results. We have also just launched our fully functioning CRM platform in the last month which will give us significantly more insight into customer behavior across all sales channels and enable us to deliver a more engaging shopping experience for our customers.”
Fox confirmed that the retailer continues to achieve Net Promoter Scores (NPS) consistently above 80 and sales conversions have increased to almost 38%.
Shaver Shop plans to complete 10 to 12 full store refits in FY20 at key doors across Australia. A store in the newly refurbished Westfield Newmarket in Auckland, New Zealand and the re-opening of the Karrinyup store in Western Australia are scheduled for the second half of the financial year.
“We are being more cautious regarding new store openings at present given the continuing transition to online sales as well as the potential for cannibalisation of existing stores,” Fox said.
“Shaver Shop is a seasonal business with material sales and earnings contributions coming from the upcoming Christmas and Boxing Day trading periods. We remain cautiously optimistic about delivering same store sales growth over our most important trading period.