The Foschini Group (TFG) has released its annual results for the year ended 31 March 2024, and reports that its online retail now contributes 4.2% of retail turnover. It said this growth was largely attributable to the performance of its e-commerce platform, Bash, in South Africa.
TFG's overall online turnover grew 22% to R5.6 billion, contributing 9.9% to total retail turnover.
"Bash continued its outstanding growth during the year and Thunström confirmed that breakeven for the e-commerce platform had been brought forward," TFG stated. "Bash is now the number one South African fashion and lifestyle app and saw a 45% increase in first-time shoppers." Significantly, full price sales increased 63% and multiband sales increased.
.. Jan Vermeulen.
