It would be fair to say that this summer has not been the most record-breaking in terms of sales in the retail sector. Dismal weather, the recession and the high level of unemployment have all been contributory factors in many commercial property retail chains posting falling profits and lower footfall than has been seen in several years in Britain.
However, one retail chain appears to be bucking the trend, and has now expanded one booming area of business to take advantage of its success with consumers.
Debenhams has announced that it has expanded its homeware and furniture ranges in time for the Christmas rush, in order to make the most of Brits spending more time at home. Due to a lower number of people spending on foreign holidays, and the poor summer weather trapping people inside, it seems that many people are choosing to indulge in a spot of interior decorating, which has definitely proven profitable for the retailing giants. In fact, Debenhams has posted a 55 per cent growth in furniture sales in the first half of the year when compared with the same period in 2011.
The ranges have now grown by two thirds since last year, so consumers have a choice of over 1,700 products. They can all be found in the new catalogue which was launched over the weekend. A marketing campaign will also appear on television and in stores in the run up to Christmas in a bid to entice shoppers into the stores.
Sofas and beds are expected to be some of the biggest sellers in the newly updated ranges, although smaller homeware items such as picture frames, vases and cushions have always proven popular in the chain’s commercial properties.
Home trading director at Debenhams, Steve Lightfoot, said; “As foreign holidays become more costly, we have seen a trend for home improvement.
“Customers are spending more time on their home and on more expensive furniture goods.”
The retailer also hopes that their good fortunes will carry on to their clothing ranges. As fashions this autumn are more distinctive and colourful – possibly to make up for the dismal summer – Debenhams around the country are gearing up for a rush of people buying in new clothes to see them through the season. After a poor performance in summer sales for the majority of clothing stores nationwide, it is hoped that consumers will begin visiting local high streets and shopping malls again to improve third quarter results.
However, Debenhams has little to worry about should their stores continue to perform as they are at the moment. Shares have risen 63 per cent so far in the past year, making the chain, according to experts, one of the best placed businesses in terms of stocks in the UK.
Do you tend to spend more money on your home if you choose to forego a foreign holiday? Debenhams predicts that more and more consumers will be enticed into their stores by the new products launched last weekend – do you agree, or do you think they would have been better finding a way of lowering costs to fit with recession prices?
