Loot.co.za chief executive Greg Le Roux said their 2020 Black Friday deals would begin this Friday. Photo: Ian Landsberg/African News Agency (ANA).
Loot.co.za chief executive Greg Le Roux said their 2020 Black Friday deals would begin this Friday. Photo: Ian Landsberg/African News Agency (ANA).

Loot.co.za chief expects significant rise in turnover this Black Friday

By Given Majola Time of article published Nov 3, 2020

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DURBAN – Online department store Loot.co.za was positive it would continue to see engagement and turnover increase over the upcoming Black Friday period.

Loot.co.za chief executive Greg Le Roux said their 2020 Black Friday deals would begin this Friday.

“During the 2019 Black Friday period, we experienced double-digit growth hence we expect this year’s performance to be greater in the face of the Covid-19 pandemic. The Covid-19 pandemic has increased our traffic over the last few months, and we have seen shoppers experiencing our e-commerce platform for the very first time.

"These new customers will not return to their old traditional methods of shopping and most certainly not during the crazy period of Black Friday and Festive, with overcrowded shops during a global medical pandemic. Therefore we are predicting a bumper season this year,” said Le Roux.

He added that e-commerce continued to be buoyant and would continue moving further forward. Le Roux said the current challenge for all retailers was the supply chain for suppliers to keep up with the growing demand.

Loot.co.za conceded that just like with everything else in 2020 where not much had gone according to plan, Black Friday would also be just as difficult to predict.

Le Roux said that they were, however, gearing up for the continued adoption of e-commerce in the country as more people migrated from bricks and mortar to online shopping which was safe, easier and more convenient.

“As a result Loot is predicting a far busier Black Friday period compared to previous years. Due to the continued consumer fear around Covid-19 and entering crowded shopping malls, we anticipate more shoppers will switch across to online shopping. Loot has invested in personal and technology to cope with the predicted increase in new shoppers and their concerns and queries.”

Le Roux said that South Africa and e-commerce experienced growth in the number of shoppers going online to enjoy Black Friday savings.

He said it was from this that they knew that what they needed to invest in their back-office operations and functionalities as well as include all partners in the planning and preparations well in advance each year. “During this period our partnerships with our delivery service partners is crucial. Together with them, we are able to deliver parcels to every door or pick up and collect counters throughout SA.”

Loot said that they firmly believed that retail shopping had changed forever post Covid-19 as shoppers had seen the ease, convenience and safety of online shopping and as a result had adopted this new way of “browsing” and ultimately checking out.

As a general e-commerce retailer, Loot said it had noticed the growth and needs of their customers and since branched into more niche categories. “One example of this is the launch of StyleMode.co.za, our speciality fashion website.

“We anticipate the South African consumer becoming more comfortable with the day to day ins and outs of online shopping, for instance, the different options for delivery such as collection, pick up and collect or door to door delivery as well as the safety of online payments and the numerous other different ways to pay online,” he said.

Loot said it would continue to constantly invest in its technology in order to continuously improve its customer service.

Le Roux said that they foresaw growth coming from numerous areas including the expansion of the marketplace platform which offered numerous entrepreneurs, small businesses, brick and mortar shops without an online presence as well as growing online retailers the ability to reach Loot’s growing audience and use their established infrastructure.

“This marketplace expansion together with the expected organic growth in online retail plus further investment in numerous shop fronts, Loot is on track to exceed its strategic growth forecast for the next five years,” said Le Roux.

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