Costcutter has announced a 10% year on year growth in sales for the first 20 weeks of the financial year.
Chairman Colin Graves said that promotions and advertising were key to the group’s success during the economic downturn.
“Being a group that was already placing great emphasis on value, promotion and advertising even before the recession started meant our stores were better prepared to trade in difficult circumstances,” he said. “By promoting the right range at consistently competitive prices we’ve been able to grow our business and increase sales. People are being more careful with their money and always on the lookout for great value and undoubtedly this has contributed to the success of Costcutter stores in recent times.”
The group has also been prominent with its advertising, with a campaign airing during GMTV throughout autumn. It is also planning another TV advertising campaign for later this year.
“Our promotional advertising campaign gives local stores the ability to compete against the multiples and drive footfall,” added Graves.