EDGARS Stores Chief Executive Officer, Sevious Mushosho, has highlighted the crucial role that civil servants play in driving growth in the retail sector, despite the prevailing economic challenges.
Speaking at the annual general meeting (AGM) last week, Mushosho noted that government employees constitute the largest customer base for retailers, and their spending habits have a significant impact on the industry’s performance.
“In retail, the biggest pool of customers are the civil servants,” Mushosho said.
However, he acknowledged that the recent drought and uncertainty surrounding monthly announcements had negatively impacted consumer spending in the first quarter of the year.
“When there is drought, civil servants have to feed people in rural areas, and that affects their disposable income,” he added.
Despite these challenges, Edgars Stores managed to perform well, thanks to strategic decisions made by the company, he noted.
Mushosho attributed success to their focus on better stock management and controlling their supply chain through in-house manufacturing.
“We conditioned our strategy to buy better, and that paid off. We also retooled Carousel and increased production, which helped us control costs and quality.”
He also added that Edgars Stores’ introduction of tech merchandise as a key differentiator from competitors.
“We partnered with top manufacturing companies in tech, which our competitors couldn’t match
“Our tech merchandise has been well-received by customers, and we’re seeing an exodus of customers from boutiques to our stores.”
The CEO emphasized that Edgars Stores’ focus on quality and affordability has enabled them to outplay their competitors.
“We’re offering 100% wool suits for $640 on credit, while boutiques are selling inferior quality suits for $1,300 in cash.
“Our duty now is to ensure that this information reaches the market, and we’re confident that customers will continue to flock to our stores.”
Mushosho’s comments come as Edgars Stores prepares to release its quarterly results, which are expected to reflect the company’s resilience in the face of economic challenges.
The CEO’s emphasis on civil servants as a key customer base highlights the importance of this segment in driving retail growth, and his strategic decisions have positioned the clothing retailer for continued success in the competitive landscape. — NewZimbabwe
