99p stores succeed without high-budget advertising power of their rivals
June 30, 2011 by Michael
A chain of stores offering a huge range of goods for under a pound have swept the nation and have seen success without huge advertising budgets.
99p Stores have dubbed their brand to be ‘recession busting’ and have witnessed phenomenal growth over the last twelve months, with profits increasing threefold. The stores have Managing Director Hussein Lalani to thank for their success, who spotted a gap in the market when he realised that people were not only watching their spending, but they were also no longer willing to pay over-the-odds for certain products.
Lalani stated that pre-tax profits had jumped from £1.8m to reach the dizzy heights of £6.3m for the year ending January 2011. He plans to open up a further 30 shops throughout the UK by January 2012. The shops that have opened this year have included ones in areas such as The New Forest and St. Albans, areas that are traditionally regarded as being affluent and middle class. Lalani says:
“We have had shoppers from all sectors of society beating a path to our door. Value has no class boundaries or borders.”
By offering genuine value and keeping promotion and advertising costs, Lalani has managed to help spread the word about the 99p Stores and grow this into a real success story, just as many other local businesses have done. By using local printing companies offering services like flyer printing in Potters Bar, St. Albans and the surrounding areas, small companies can make big things happen – whatever their budget.