The credit purchase system is going to see see most retailers recording improvements, I see that some mobile phone retailers have also taken up that model, soon we might actually see big brand franchises enter the market
Thank you Tinashe.Great insights in this article.I realise the credit business was probably the biggest contributor to the much improved performance, a question remains though, what happens when the local currency takes a dive again? Or the credits are mainly on USD accounts?
The formal retail is entering an unchartered territory considering the modern structure in Zimbabwe where the Informal sector holds most of the demand
Good move Edgars by the way . Honestly the stock price wasn't going anywhere
The credit purchase system is going to see see most retailers recording improvements, I see that some mobile phone retailers have also taken up that model, soon we might actually see big brand franchises enter the market
Edgars is now selling bootleg imports, likely from Dubai/Turkey. Especially on their fragrances. Hence the sudden jump in profits..
So you can imagine selling bootlegs on credit +interest
Is it? I think it would make sense to get clothes from same suppliers but in bulk to get better prices. When you say bootleg do you mean fake?
Thank you Tinashe.Great insights in this article.I realise the credit business was probably the biggest contributor to the much improved performance, a question remains though, what happens when the local currency takes a dive again? Or the credits are mainly on USD accounts?
A lot of it is USD the economy mostly dollarised now.
What are the chances of First Capital Bank introducing more credit products like a Credit Card for example, is the market still not ripe for those?
Totally enjoyed reading this, Tinashe. Sad to see retail brands we grew up with struggling like this. I hope that Edgars keeps its momentum up!