Brands For Less (BFL) Group, a leading off-price and multi-brand retailers, has announced that it achieved exponential growth in 2021 and marked several milestones amidst the challenges posed by the pandemic.
The brand, which closely follows changing consumer behaviour, has also attained a consistent growth in sales and revenue, following its shift to e-commerce in the first half of the fiscal year.
The retail industry experienced tremendous growth in 2021. Increasingly, retailers are adopting tech-enabled solutions to create a hassle-free shopping experience for customers. The present global health crisis and subsequent concerns over the health and safety of customers have also accelerated the shift to online shopping and redefined purchase motivation.
What would normally take years, it took only months for relevant technologies to be rolled out. In the UAE, factors such as a well-managed crisis and Expo 2020 Dubai have vastly increased the flow of business among retailers.
BFL Group’s shift to e-commerce was in line with the rapidly changing market trends, purchasing habits, rising popularity of influencer marketing and digital disruption of the traditional shopping experience. The brand has also implemented augmented reality to offer an enriched virtual shopping experience to its customers in the said period, it said in a statement.
Furthermore, BFL Group also received the Heroes of the Pandemic award at the Transport and Logistics Middle East Award 2021, under the e-commerce category.
CEO Toufic Kreidieh said: “This year has been equally challenging and rewarding for us. Now, since we are nearing the end of the year, it is time to set goals for the upcoming year. In the days of unprecedented crisis, we handled the situation as a team, and it was the hard work, dedication and customer loyalty that helped us revive.
“The company, management team and employees are grateful to our customers, as they gave us the biggest motivation to expand our businesses to new levels. As we give great importance to customers, we are also keen on enhancing customer engagement and experience. Currently, we are focusing on the expansion of our businesses in KSA and other GCC countries.”
The group has also opened many new outlets and stores in the region in its expansion strategies in 2021. Moreover, the flagship stores launched by BFL Group, namely Muy Mucho, the Spanish homeware store, also are receiving positive responses from consumers in the region.
Besides BFL Group's prices and concepts, some other factors that have fuelled its growth are renewed sense of confidence among UAE shoppers, the group’s expansion plans in Oman and Kuwait and its entry to KSA. The expansion strategies of the group are to make products easily available for customers in the region.
The Group also focuses on new strategies such as the launch of its flagship store, Luxury for Less, in the UAE. It also has plans to open more Luxury for Less stores, that features products and items from French and Italian luxury fashion brands, soon.
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