Courts Malaysia has embarked on an aggressive growth strategy in Malaysia for 2014.
As a champion for local football, the retailer has launched its Gempak Bola campaign, which is expected to drive sales in the vision category with customers upgrading their TV for the World Cup.
At a briefing hosted by Country CEO, Allard Sjollema, the leading electrical, IT and furniture retailer in Southeast Asia announced its expansion plans for the coming year, citing Malaysia as a key driver for Courts Asia.
The retailer currently has 64 stores nationwide with a combined retail area exceeding one million square feet.
“In spite of the challenging short-term macro-economic environment, we are committed to further developing and growing our store portfolio in both West and East Malaysia. This year, we are looking to increase our existing retail space by another 10%, which means we will add approximately 120,000 sq. ft. of new retail space,” Sjollema said.
Earlier this year, the retailer opened its second ‘Big-Box’ Megastore in Subang Jaya, the second Megastore after the launch of the Sri Damansara Megastore in July 2013.
Courts also opened its first store in Sabah, East Malaysia, in September 2013, completing its nationwide coverage of the country. With the opening of two ‘Big-Box’ Megastores and four small format stores, the company has successfully grown its retail space by an additional 20% in FY2014.
“Coupled with our variety of in-house retail credit packages catered for every customer and need, aspirational lifestyle products are now more affordable and accessible to consumers everywhere. We will strive to provide our customers the best-in-class retail to home experience that is unparalleled,” Sjollema said.
Courts has recently expanded its product categories to include motorcycles, which are now available in over 52 stores nationwide, and will be growing its range of digital products by 100%.
The retailer saw a growing demand for “wearable technology” and Courts will introduce a new retail concept, World of Wellness, a one-stop health and fitness destination in the Sri Damansara Megastore in May 2014.
In terms of sales growth, Courts forecasted a healthy double-digit increase in both its electrical and furniture categories during its annual Hari Raya campaign, which historically runs for a full quarter and is a significant sales contributor for the company.