Best & Less Group (BLG), comprising Best & Less in Australia and Postie in New Zealand, has delivered a record performance to the end of November 2020.
With the majority of total revenue derived from the Baby and Kids categories, BLG has positioned itself as a value retailer among a large and growing addressable market of 4+ million “mums and bubs”, many of whom are part of the Group’s loyalty club which now counts ~1.5 million members.
CEO Rodney Orrock praised the growth strategy.
“Family is at the heart of everything we do and the year 2020 gave retailers a unique opportunity to connect better with their customers in a number of ways.
"For our business, this included an upgraded loyalty program, creating a stronger customer care function and putting more investment into our digital presence and omnichannel strategy – online sales are up 80% versus last year.
“Our transformation continues apace and our team is ready and able to leverage the global industry tailwinds in favour of trustworthy, value-oriented retail brands offering consumers greater flexibility in how, where and when they shop in a post-COVID environment."
BLG has 246 stores and an online channel, which continues to increase BLG’s share of the $26 billion-plus apparel and footwear market on both sides of the Tasman.
In the 12 months ended 30 November 2020, BLG has generated total sales revenue of $629 million, with YTD LFL growth of +13.5%. Online sales for the 12 months are up 80% to $57 million, representing 9.1% of total sales.
Between FY17-20, online sales have grown 50% (CAGR) in testament to BLG’s investment into its omni-channel capability and online presence, as the business drives forward initiatives including Click-and-Collect.
"Our performance over the past year is a huge achievement for our team, particularly given the unforeseen challenges of COVID, and is further proof of the successful transformation at play for our Best & Less and Postie brands, which started over five years ago," Orrock said.
“While the business was experiencing strong sales before the pandemic, it has provided a strong tailwind as customers increasingly focused on value.
"We’re thrilled to be recognised as one of Australia’s top 10 most trustworthy brands during COVID times, and believe consumer demand for our proposition of ‘twice the quality at half the price’ is here to stay.”