The retailer mostly present in peripheral locations can no longer ignore city centres. Despite expensive rents, city centre locations are attractive in a sluggish consumption context where consumers seek more convenience. Following the path of the Electronics retailer Boulanger, GIFI announced its intention to enter Paris. The brand inaugurated yesterday its first store in Paris with 1,000m2 located rue d’Alésia (Paris 14th). The retailer intends to open 12 stores in Paris and 30 in the largest French regional cities. GIFI operates 528 stores in France and Belgium and intends to double its network up to 1,000 stores by 2026.
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. We want to provide the customer with a local service, and at the same time generate sustainable dynamic growth for store brand' said Philippe Ginestet, founder, chairman and CEO of Gifi Group.
