According to Nakumatt Holdings Managing Director Atul Shah, 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.
Speaking when he officially unveiled the retailer’s Sh20million 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.
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 30pc 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 the 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.
As part of the Nakumatt Christmas Bonanza customer reward programme, shoppers at Nakumatt stand a chance to win fabulous prizes valued at more than Sh20million during this festive season.
The Nakumatt Christmas Bonanza customer reward programme carries a Ford Kuga Sports Utility Vehicle Grand Prize with five Ford Figo cars also up for grabs among other prizes in the promotion that closes on January 5 next year.
Globally, the National Retail Federation in its gift card spending survey, is forecasting that the average person buying gift cards this Christmas season, will spend $172.74, up from $163.16 last year.
Total spending is expected to reach $31.74 billion. In the survey conducted last month, NRF established that 62 percent of shoppers said they would like to receive a gift card, making gift cards the most requested gift item eight years in a row.