Vedes hopes to increase sales with strong online business

Vedes hopes to increase sales with strong online business

Business performance to date is encouraging, reported CEO thomas martz in nurnberg on friday.

By the end of may – well before the important christmas season – sales of toys in the 1150 vedes member stores had reached the previous year’s level. Handlers have since been ordering heavily after weak demand at the end of 2012.

With its entry into online retailing, the vedes group is responding to the growing importance of internet business in the toy trade, according to sales director achim wenger. 20 to 25 percent of the industry’s sales are now made online.

The toy retailer now works with around 120 member companies in its internet business. The vedes group provides the store on the internet, but the orders are processed through a vedes dealer near the customer. This would guarantee that online sales would be made by local retailers.

Vedes suffered losses last year due to the decline in local toy retail business. Sales by affiliated toy retailers (counter sales) shrank by 1.0 percent to 477 million euros across europe.

In germany, sales lot decreased by 1.5 percent to 562 million, contrary to the industry trend, reports martz. He put the consolidated profit before distribution to members at 4.0 million euros – 1.4 million less than in 2011.

When it comes to christmas sales, vedes relies primarily on trends set by children’s films and tv series. The company also has sales hopes for the new computer game consoles coming onto the market this year.

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