Fashion retail group Tendam’s online sales grow 29.4%
Tendam, the Spanish fashion retail group that was formerly known as the Cortefiel Group, saw its online sales grow by 29.4 percent last year. Online sales now account for almost 8 percent of the company’s total sales in Spain.
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This is one of the results Tendam posted with regards to the 2018/2019 financial year. The company, which owns the brands Cortefiel, Predo del Hierro, Springfield, Women’secret and Fifty, saw its group sales stay quite steady at 1.16 billion euros, versus 1.15 billion euros last year.
Ecommerce represents 7.9% of company’s total sales
Tendam’s online sales increased by 29.4 percent during the period, thereby continuing the upward trend across all brands. “Online sales were up by over 20 percent across all brands, with particularly strong growth at Women’secret (+34.9 percent) and Cortefiel and Pedro del Hierro (+32.4 percent)”, the company explains. Ecommerce now represents 7.9 percent of the company’s total sales in Spain. Last year, Tendam’s ecommerce share was 6.3 percent.
Online stores more profitable than physical stores
CEO Jaume Miquel added: “The quality of our online business sets us apart from the competition, yielding returns that are higher than standalone physical stores. This is due to the fact that the omni-channel strategy capitalizes on three aspects: a robust and streamlined store portfolio, highly efficient digital operations and a database of customers that are highly loyal to the Tendam brands.”
Order online, pick up in store
Tendam wants to continue working on its omni-channel strategy. For example, it launched a service in Spain last year, which lets customers pick-up items they bought online at Cortefiel or Pedro del Hierro at one of the over 120 Springfield points of sale. “Thanks to this initiative, online penetration has seen an increase of between 7 and 9 percent in several provinces in Spain”, the company announced.
Reserve online and pick up in store
Tendam also rolled out the ‘reserve online and pick up in-store’ service across Spain and began implementing this in Portugal as well. Since the launch of this service in October last year, over 65,000 product reservations have been made in Spain.
Currently, Tendam has a store network of almost 2,000 points of sales, of which 1,242 are directly-operated stores, 632 franchise operations and 119 department store corners. Miquel: “The customer’s needs are clear: they want the best of a physical store and the best of a digital service.”