Coles (ASX:COL), Boost Mobile team up to present an enticing iPhone offer to customers

  • November 03, 2020 02:09 PM AEDT
  • Team Kalkine
    Team Kalkine
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Coles (ASX:COL), Boost Mobile team up to present an enticing iPhone offer to customers

Summary

  • Coles Group has partnered with Boost Mobile under which Coles’ customers could pick up a refurbished Apple iPhone 7 during their weekly shopping at a promotional price of A$259.
  • Each refurbished iPhone goes through a rigorous 72-point inspection process and comes with 30-day satisfaction guarantee & 12-month warranty.
  • The retailer announced its Q1 FY2021 results last week with an impressive 10.5% growth in group sales revenue. The results were driven by a massive 57% growth in online sales.

Coles Group has always focussed on delivering value to its customers, and on 02 November 2020, the retailer took another step in this direction.

Coles Group Limited (ASX:COL) has announced that from Wednesday, 04 November 2020, its customers would be able to pick up a refurbished Apple iPhone 7 during their weekly shopping. The offer was made possible because of Coles’ partnership with the telco brand Boost Mobile.

The fully refurbished Apple iPhone 7 32GB has been launched at a price A$259. The phone is unlocked and comes with a A$10 Boost Mobile SIM.

Each refurbished iPhone goes through a rigorous 72-point inspection process to ensure that the product is genuine and in an artistic and functional condition. Further, these phones come with a 30-day satisfaction guarantee plus a 12-month warranty. All the iPhones are Australian compliant.

Q1 FY2021 Sales Results

On 28 October 2020, Coles released its Q1 FY2021 sales results reporting a growth of 10.5% in its sales revenue to A$9.6 billion. Supermarkets comparable sales growth during the period was 9.7% with online sales skyrocketing by 57%. Further, liquor comparable sales growth was 17.8% with an increase of 80% through online mode. Express convenience comparable sales grew 10.2%.

Outlook

In the first 4-week period of Q2 FY2021, Supermarkets comparable sales growth stood at 6.4%. Online sales continued to surge during the period with a strong 45% growth as demand eased in Victoria. Also, liquor comparable sales growth was 16.9%.

While there is an ongoing uncertainty concerning COVID-19, the Company sees several important trends that might impact the Group. These include:

  • Personal hygiene standards
  • Higher levels of at-home activity and entertainment
  • Online consumption and digital recipes
  • Restricted international travel
  • Opening of interstate borders

DO READ: Why did Coles Group (ASX:COL) and Kogan.Com (ASX:KGN) share price close in red today?

Stock Information:

At AEST 02:02 PM, Coles shares are trading at A$18.290, up 1.217% from the previous close. Coles has a market cap of A$24.10 billion.

Bottomline

Coles Group aims to focus on the Australian citizens’ budget in both the Supermarket and Liquor segments via new products offering significant value. In that direction, the Company has made efforts to make iPhone 7 refurbished phones available at an affordable price to its customers before the Christmas season.

Hence, it would be interesting to watch how the business further boosts its sales during the period.      

 

 


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