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Jet
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For the fourth year in succession Jet has grown its share of the clothing and footwear
market. In most categories, key performance indicators are ahead of industry norms
and substantially better than competitors in the discount retailing arena. Although
average stockholdings were 31,5% higher than last year, a commendable stockturn
of 7,8 times was achieved. The store cost-of-selling ratio was 14,9%, which represents
the lowest cost structure in the discount industry in South Africa. Stock losses
at only 1,0% of sales was a significant achievement in light of the huge increases
in product volumes through stores.
Jet has had to respond to the challenging yet exciting task of catering to a market
that is in transition. The chain had to meet these challenges by implementing key
marketing strategies, which have resulted in the awareness of Jet growing from strength
to strength. It was voted the number one brand among the clothing retailers of South
Africa for the second year in succession (by the Markinor survey of brands).
The chain's expansion strategy saw 131 new stores opening in the year under review:
54 Jet, three Jet Mart, six Jet Shoes, 60 Legit and 8 Blacksnow stores, with 39
located in rural areas. The average performance of the newly opened stores far exceeded
the targets set by Group management and demonstrates that our location strategy
formulated two years ago is delivering the desired results.
Jet Club, which is the largest loyalty club in the country, now has 1,3 million
members with a readership of 5,8 million for the Club magazine. The loyalty of these
members to the Jet brand is an invaluable asset and excellent direct marketing opportunity.
Be sure to visit the Jet website at
www.jetstores.co.za for more.
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