Westfarmers have a wide assortment of major Australian and New Zealand retailers and this month they updated the market on how they have been performing during some of the most difficult times retail has ever seen.
Wesfarmers are owners of retailers such as Kmart, Catch and Target. As expected during these times, the best performer of the group was Catch, the online pureplay. In fact, Catch experienced a mammoth spike in sales of 68.7% at the end of May. If you would like to purchase from Catch, use a Catch coupon code with your order.
Other stores that have done well during the Covid pandemic are hardware stores and office supply stores of which Wesfarmers own the two biggest ones, Office Works and Bunnings. During this period, Officeworks recorded a sales increase of 27.8% and Bunnings jumped by 19.2%.
Kmart did not perform as well during this period with sales positively steady at 4.1%. Target was a negative spot in the group with a drop of 1.8%. Although these stores performed relatively well, there is a high degree of caution and a slightly negative outlook as the low consumer confidence and job losses is expected to slow growth long term.
The digital space seems to be the way to get future growth with many now choosing to shop online rather than venture out into public areas.