// Marks Electrical sales rise 33% between October and December
// Demand for energy-efficient appliances soared amid surging electricity and gas bills
Marks Electrical’s sales surged 33.4% over the key Christmas period as shoppers snap up energy-efficient appliances amid soaring electricity costs.
A-rated energy-efficient laundry appliances, televisions, fridges and small domestic appliances were among its top-sellers over the golden quarter.
The retailer’s sales hit £72.9 million in the nine months to the 31 December, up 22% on last year.
The positive performance places the online appliance retailer on track to achieve its full year targets.
Marks Electrical chief executive Mark Smithson attibuted the group’s strong performance against a “tough economic backdrop” to the resilience of its business model.
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The retailer invested to grow its brand awareness with “highly targeted” television, radio and out-of-home campaigns over Black Friday and Christmas.
This led to an increase in website traffic and sales growth, particularly in London, South East England and the East Midlands.
Marks Electrical said it maintained inventory levels during peak trading by tightly managing costs.
Smithson said:”We’ve worked closely with our suppliers throughout the quarter, enhancing our position as a growing, but agile, national retail partner of choice.
“As supply has stabilised during the last 12 months, we have been able to capitalise on our strong net cash position to enhance our inventory range and product availability, further improving our offering for customers.”
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