AllHome revenues up 3 per cent in pandemic year

A slew of strategies implemented by Philippine home improvement retailer AllHome as a response to the difficult business environment created by the onset of the Covid-19 pandemic has paid off, as the company ended 2020 on a positive financial note. AllHome reported a three per cent rise in full year sales to PHP 12.4 bn (EUR 217 mio) in a year that required retail establishments to shutter brick and mortar stores for a prolonged period in a bid to contain the Covid-19 contagion. Net income was down five per cent to PHP 1 bn (EUR 17,5 mio) from the previous year's PHP 1.05 bn.
The resumption of store operations in the second half of the year compensated for lost sales in the second quarter, when all non-essential retail establishments were made to close. Apart from this, AllHome also adapted marketing and sales strategies that allowed it to continue serving customers outside the stores. The company said the strategies, which included deploying an e-commerce site, accounted for 10 per cent of sales.
Meanwhile, soft categories buoyed the company when demand for hard category items waned owing to a temporary ban on construction activities. They contributed 62 per cent of total full-year revenues, with appliances making up 31 per cent, the company said.
AllHome closed the year with 50 outlets after opening five stores between September and December. It opened in two more locations in the first two months of 2021, bringing its total store count to 52.