Carlo Solari, president of Falabella, interviewed in Chilean press

news March 2021 Latercera (Spanish)

What: the retailer announces new strategy to consolidate everything into a single marketplace

Why is it important: Falaballa is one of the few traditional retailers in the region that can be digitised
Falabella’s fourth quarter closed with a profit of USD 195 million, which compares to USD 111 million equal in 2019. Carlo Solari highlights these recent results: they added more than three million new customers to his e-commerce and more than 10 million customers participated in loyalty program. They sold USD 3 335 million in e-commerce, an increase of USD 1 840 billion in this way. Another result that stands out is the increase of USD 446 million in sales after implementing the marketplace, a platform on which they sold a total of USD 763 million.

But it wasn't all digital. Sales of the same physical stores in all their markets grew more than 22% despite restrictions and thanks to the 10% withdrawal from pension funds allowed by government.

Carlo Solari says: “we are creating this new platform or ecosystem that we call physical-digital, in which we are building on what we had: physical stores, distribution centres, loyalty system and financing systems. We don't want to be a B-version of a digital company. We have our own brands, a know-how, a position and capillary that is what we want to take advantage of.”

“Before the pandemic, every business developed its e-commerce. With the pandemic any expectation was exceeded, because demand multiplied by three and four, while we had many restrictions to operate. That is why we streamline - and announce - this strategy to consolidate everything into a single marketplace: Thus, Falabella, Sodimac, Tottus and Linio will operate with that platform.”

“Given the work we have done and what we had already done in the past in the bank and in the financial business, we are one of the few traditional retailers in the region that can be digitized.”

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