With the projected growth, Nakumatt Holdings is now anticipating a Sh11 billion turnover over the festive season period, which also covers the high volume back to school period in January.
Nakumatt Holdings Managing Director Atul Shah says the festive season (November-January) retail sales prospects are expected to grow significantly due to the prevailing positive economic climate as indicated by the falling rate of inflation and related price indices.
Shah says the national indices alongside the firm’s internal market and economic research findings, confirm that both general shopping centre/malls driven and stand-alone store sales are likely to grow at an average rate of 10 percent over last year.
The average retail store customer traffic, Shah said, is also expected to more than double with an average daily traffic of 300,000 customers generating at least 175,000 transactions across Nakumatt’s branch network.
“New branches opened this year and an expanded product portfolio featuring Nakumatt Blue Label and Nakumatt Select Private brands are expected to spur stronger sales with an average 3 percent contribution to the overall sales growth projections,” he said.
He said that the regional economies are enjoying gradual but steady growth and economic research findings at Nakumatt are positive that; modest but stronger sales will be achieved this holiday season.
“We are proud to be associated with our respective shopping mall partners such as Thika Road Mall who have lined up a series of sales promotion and customer reward initiatives to further shore up sales this festive season,” he added.
To enhance the projected growth around the holiday season and beyond, Shah disclosed that plans are at an advanced stage to facilitate the opening of Nakumatt’s 43rd branch at Lavington.
The opening of the new Nakumatt Lavington store is expected to coincide with the Kenya@50 celebrations with a scheduled official opening on December 12.