Strategic thinking has paid off says Morrisons CEO as their idea to revamp premium foods and open more tills leads to their best Christmas sales in seven years.
The fourth largest retailer in the UK, Morrisons has enjoyed top sales this Christmas after making the decision to open more tills, cut less prices and revamp premier foods.
They reported a sales increase of 2.9% nine weeks before 1 January on all sales except fuel. Many of its products are doing exceptionally well such as the Morrisons Nutmeg clothing range experiencing a 30% increase in sales.
Despite numerous store closures over the year, they experienced their first increase in sales since November 2013.
CEO of the Bradford store David Potts stated that their success has been as a result of being better prepared to meet demands than they had been in previous years.
He also mentioned that they had sold out of many of their online products before they could even reach the stores.
Mr Potts insists that their sales increase wasn’t just because of cheap alcohol and premium products but that sales had improved across the board.
“More people are beginning to relate to Morrisons, we provide something for everyone.”
Analyst for Bernstein Research Bruno Monteyne states:
“This positive result reflects good strategic delivery by Morrisons as the customers that they had lost over the past few years are now returning to their stores.”
Morrisons finance director Trevor Strain appears to be the only person not as enthusiastic with Morrisons success, stating: “Regardless of commodity pressures, we still had a very competitive Christmas basket.”
Potts stated: “This Christmas we were more in tune with the customers’ needs. We opened up more tills and improved our product availability. Our success last year has been very encouraging.”
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