Photo by Martin Pettitt/Flickr
Today, Poundland has that it appears that those questionable elf ads did the trick, for the company recently had its best Christmas since it started trading in 1990.
The bargain retailer said that like for like sales during the three weeks to Christmas increased by six percent, while sales in the week prior to Christmas were at £59m which is 20 percent higher compared to last year.
The company said that it sold over 5m rolls of wrapping paper, more than 1m pieces of tinsel, over 26m Christmas cards and 28m baubles. On the other hand, sales of batteries tripled during the week prior to Christmas.
It also emphasised that the controversial “Elf Behaving Badly” campaign in social media, which featured a toy elf in risqué positions, as one example of the company’s “low cost but highly effective marketing strategy.” Today, the Advertising Standards Authority (ASA) started an investigation into the said ads after it received around 80 complaints – even though the campaign also resulted to 200,000 sales of “bad elves”, alongside the 1m “elf accessories.”
“This Christmas, sales have even exceeded our high expectations,” stated the retailer’s managing director for the UK and Ireland, Barry Williams.
“Poundland is buzzing, significantly outperforming the market, entering the new year with great confidence.”
Poundland, which was acquired by Steinhoff, the troubled South African retail giant, in September 2017, also said that the Steinhoff subsidiary, Pepkor Europe, which serves as its parent company, had restored planned investment from its owner with a new loan facility amounting to £180m.
“Despite the ongoing issues faced by our parent company, we have been able to work quickly over Christmas to activate new sources of funding that will enable us to reassure suppliers, implement our investment plans and secure the future of these successful businesses,” stated the Pepkor’s chief executive, Andy Bond.