Samsung Africa and regional retailers have engaged in a joint marketing initiative so that they can drive up sales and enhance its local market performance.
"The strategy is geared at ensuring a win-win relationship with the firm's trade partners and is under execution at Nakumatt Holdings." Said Mr. Sung Yong Hong, who is the newly appointed Samsung President in Africa.
As part of the strategy regional retailers Nakumatt Holdings have confirmed plans to double their share of Samsung Consumer Electronics products sales through a series of joint marketing promotion initiatives.
Just six months from its recent appointment as a regional franchisee and approved importer for the full range of Samsung Consumer Electronic products, Nakumatt has managed to grow its share by more than 50% in less than six months.
Speaking when he hosted Mr. Yong at the Nakumatt Headquarters, Nakumatt Regional Director Thiagarajan Ramamurthy said that the retailer had in the last six months managed to post a turnover of more than Kshs.120million against Samsung Consumer Electronic products. He also attributed the growing sales performance to the relative economic stability across the Region.
Mr. Ramamurthy also added that the continued marketing and technical support collaboration initiative between Nakumatt Holdings and Samsung Electronics East Africa are already bearing fruit as confirmed by the growing sales of Samsung LED TV Screens, Washing Machines and Home Entertainment products.
"Going by our half year performance, we are highly optimistic that we can easily double; perhaps even triple our joint sales share with Samsung Electronics," Ramamurthy said.
Mr. Hong disclosed that the firm's business development strategy fits in well with the retailers regional expansion plans as Samsung Electronics have developed consumer centric products backed by extensive Research and Development experience as exemplified by the continental sales Samsung Built For Africa products adding that their range of Samsung Built for Africa Products are tropicalized to withstand the unique local conditions such as power fluctuations, dusty and humid conditions.