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THE WHAT?
Sasa International Achieves Impressive Turnover Growth Despite Online Sales Drop
Sasa International, a renowned beauty retailer headquartered in Hong Kong, has experienced a remarkable upswing in turnover for the quarter ending June 30. Despite facing a significant 25.3% decrease in online sales, the company still managed to achieve a 30.9% growth, amounting to a total turnover of HKD1.04 billion (US$133 million).
THE DETAILS
Retail Store Numbers and Regional Sales Performance:
Sasa currently operates a network of 223 retail stores as of June 30. The resurgence of cross-border travel has fueled a considerable surge in sales within Hong Kong and Macau SARs, witnessing a substantial growth rate of 53.5%. However, China and Southeast Asia have experienced a decline in sales, with a notable drop of 32.8% and 8% respectively.
THE WHY?
Boosted Retail Sales Amidst Resumed Cross-Border Travel
The significant increase in turnover can be directly attributed to the reestablishment of cross-border travel from Mainland China. This revitalization has aided in strengthening retail sales. Despite the decline witnessed in China and Southeast Asia, Sasa is actively leveraging digital platforms to re-engage Mainland tourists in order to enhance post-travel sales performance.
