Wesfarmers is one of Australia’s largest multisector retailers and during these pandemic times the company has recorded a whopping 89% rise in online sales for this year. The great result is due two of their biggest brands, Bunnings and Officeworks. The Coronavirus has shaped consumer spending and people are turning to online stores for their shopping needs.
Retails stores such as Princess Polly have had accelerated sales as well during this period. Use a Princess Polly discount code to save on your purchase.
The strong result is in stark contrast to the dismal results that bricks and mortar stores are experiencing with shutdowns and minimal foot traffic.
Although the result has been great for Wesfarmers, whether it continues or not into the coming months is yet to be seen. It is expected that online will still be strong however the easing of restrictions and lower number of Coronavirus cases is expected to drive more people into stores.
It’s Kmart stores have had steady trade however their Target stores have continued to under perform. This is why Wesfarmers have decided to rebrand some stores to Target as well as closing other stores.
In New Zealand, Wesfarmers is expecting a $70 million dollar cost from required lock downs.