Falabella doubles online sales in Chile
What: retail sales grew by 43% while online sales grew by 122%
Why is it important: the last quarter showed recovery and positioned Chile as the most profitable market for the company
Results were due to the good performance of supermarkets and home improvement businesses, supported by the pension fund withdrawals.
In the case of Chile, the department stores' format grew by 41% thanks to a 119% increase in online sales. Home improvement grew by 45.5% and supermarkets also reported a 40.8% growth. Banco Falabella, meanwhile, showed a 20.9% drop in revenues in the quarter, mainly explained by a 16.1% year-on-year decline in the loan book.
Falabella's general manager, Gastón Bottazzini, noted that "in the year we focused on strengthening our Marketplace proposal and announced the consolidation of Falabella.com as an e-commerce platform; we strengthened our logistics capabilities and created a new unit to combine the last-mile logistics of our retail and third-party businesses to shorten delivery times and improve customer service"