Big business for fashion retailers

Basket value, spending increase:

Harshini Perera

Local fashion retailers are experiencing significant sales growth during this festive season than last year. Daily News Business spoke to several fashion retailers in the country last week.

The Odel PLC is still getting a strong element of sales from locals while there is an increase in sales from foreigners as well, Odel PLC, Marketing Head Upendra Gunawardhana told Daily News Business.

He said the basket value and the spending pattern of customers too have increased. He said sales will definitely increase in the coming days.

There has been an impact on the sales of retail fashion outlets in the past few weeks due to rainy weather but sales have picked up recently, Hameedia Stores Managing Director Fouzul Hameed told Daily News Business.

He said with the dawn of peace, people are in a festive mood and there are many corporate functions happening which make people to groom so well. “We have organized the range so well to cater the increasing demand,” he said.

“Most of the young people take time to dress well and we have already had a growth for this year compared to last year. Therefore, we are positive that at the end of the festive season there will certainly be a growth,” Hameed said.

“Our customers have shown an interest in purchasing clothes early during this season compared to last year and it could be a result of the peaceful condition in the country. There was a down-trend in purchasing last year, NOLIMIT Marketing Manager A L M Akeel told Daily News Business.

“It seems that the purchasing power of people have increased due to the better financial figures and economic condition. Compared to last year, there is a five to ten percent growth in customer expenditure. NOLIMIT expects a growth this year,” Akeel said.

The retail sales of Fashion Bug are on par with last year and it is expected to pick up in the following days. The spending pattern of customers have become very rational and they are looking for offers, Fashion Bug General Manager Saroj Lamahewa said.

“We get about 10 to 15 percent increase in every year and thus we expect the same this year since the basket value of our customers have increased,” he said.