The SSI Group—the country’s leading specialty retailer of international brands—is aiming to generate 15 to 20 percent of its revenues from online-related sales with the launch of its multi-brand e-commerce site featuring some of the firm’s most popular brands.
In a press briefing for the launch of Trunc.ph, SSI President Anton Huang said they expect this target to be hit in three years, noting that online-related sales surged over 300 percent in the first nine months of 2020 due to the lockdown.
Digital sales accounted for about 8 percent of total sales in the third quarter and 5 percent for January to September. He said SSI has decided to focus its efforts of ramping up the launch of Trunc.ph to November 6, 2020 instead of the original 2021 target.
“The Group’s ability to innovate and its ability to adapt, on top of the robust operating and financial foundation that it has built over the last few years, will drive our accelerated e-commerce strategy, as we seek to increase the number of channels through which our customers can interact with us,” said Huang.
He noted that, physical sales fell 50 percent during the lockdown although sales have been growing on a weekly basis with the reopening of the economy and October 2020 sales are actually higher than in the same month last year for some brands.
SSI has seen more steady growth with the reopening of the economy for its brands that target the upper-middle to upper segments compared to its more mass-based brands.
He said SSI’s stores have all reopened except for branches in a casino which is set to reopen soon. SSI’s expansion plans for 2020 have been shelved but Huang expects things to continue improving and the firm should be “more active” in 2021 although business it will not yet be business as usual.
Trunc.ph is an e-commerce site featuring SSI’s popular brands in one online destination and provides customers with a distinct online shopping experience.
The multibrand e-commerce site will complement the SSI Group’s 10 existing brand.com sites. This multi-brand marketplace will feature four unique concepts, bringing together some of the Group’s most recognizable brands, and providing shoppers with access to a diverse range of quality brands on one convenient digital platform.
Trunc.ph will have four shopping categories starting with Trunc which is a multi brand marketplace featuring some of SSI’s most sought-after brands. The other categories are Trunc Show, a dedicated digital stand-alone boutique for the most premium designer brands; PowderRoom by Trunc, the go-to for beauty and skincare enthusiasts; and Trunc at Home which is a dedicated destination for the world’s top home and living brands.