Consumer cycles are returning to ‘normal’ pre-COVID levels says Coles as it announced a fall in supermarket sales of 6.1 per cent this past quarter. However, alcohol sales have grown by 2.6 per cent when compared to this time last year with a sales revenue for the quarter of $759 million.
Coles Group CEO Steve Cain said, “I am pleased to be reporting ongoing successful execution of our refreshed strategy… and a beginning of a return to normality for Australians’ everyday lives.”
Retail performance at Liquorland was a highlight for the group along with Ecommerce which grew by a huge 49 per cent, supported by the opening of three “dark stores” to meet this growing demand.
Liquorland and First Choice retailers have participated in the months long discount promotion Price Drop campaign and Coles is reviewing ranging within Liquor stores. Range changes are already in place for craft beer, cider and RTDs as Coles consolidates its tailored offering for consumers.
Expect to see refreshed Coles branding as retail renewal activity continues across Vintage Cellars, First Choice and Liquorland. According to today’s announcement, the new Liquorland concept store in North Sydney is performing well and the trial has been extended. It also reported that the Vintage Cellars trial is performing well with another renewal store completed last quarter. Coles Liquor’s total network of sites is 924.
