Instalments double Flanco sales

Electronics and home appliances retail chain Flanco will see 100 million-euro sales in 2003, above the 75 million-euro goal set early in the year. This is due to the instalment plans that come with a grace period and to new large stores being opened. “We are fully aware that families at this time of year channel their financial efforts into holiday plans – trips to the mountains, to the seaside or abroad, so that paying instalments in July or August could hurt the family holiday budget,” Marius Ghenea, Flanco general manager said. Flanco’s sales had surpassed last year’s results even before the “summer” campaign, signalling that purchasing electronics and home appliances in instalments is still “trendy.” First half sales were of 35 million euros, twice and a half higher than the year-ago period. “The natural seasonal cycle of the electronics and home appliances sales, which shows best in the second half, and the twice higher sales by mid July compared to the same time in June based on the new offers point to 100 million-euro full-year turnover in 2003,” Ghenea added. ZF