Since GIFI’s inception, the store concept has certainly evolved in keeping with the times, but our business model has remained the same: an abundant offering at low prices for a cross-generational and multicultural customer base. In the current economic crisis situation, the model of the "pleasure-driven" purchase definitely has a role to play.
This positioning was backed by TV, radio, and display ad campaigns that worked well and attracted new segments of customers to our stores in search of optimum prices. This expansion can also be seen in the average checkout value of €21.11, when 75% of our products sell for under €5.
We are always working to find the best suppliers and to optimize sourcing so that we can continue to draw customers with even more new products at attractive prices. We currently source our products from Asia, of course, but also from Italy, Belgium, Spain, and Eastern Europe.
This customer-focused approach also underlies our decision to redesign and revamp our stores inside and out, creating a more stylish, colourful atmosphere, with carefully designed signage.
Our new generation points of sale have been well received and reflect positively on our image.
This year, we opened 25 stores in France and abroad, both directly owned and operating under trade name licenses. Our goal is to have 500 stores in France by 2017.
To accomplish this, we are targeting catchment areas of more than 20,000 inhabitants and areas with strong economic growth.
We want to provide the customer with a local service, and at the same time generate sustainable dynamic growth for store brand.
We have many plans to expand in the future. Boldness and ambition are the driving forces behind GIFI.