Global clothing retailer Inditex, parent company of Zara, saw “a significant rebound in traffic” to its stores around the world in the first quarter of fiscal 2022, from February 1 to April 30, but the company says always convinced that she will achieve her goal. objective for 30% of its turnover to come from online sales by 2024.
Online sales fell 6% in the three months of the first quarter after a 67% jump in the first quarter of fiscal 2021, while store differentiation helped increase foot traffic in stores. Inditex, according to the company’s latest earnings report Wednesday, June 8.
Overall, Inditex saw sales jump 36% in the first quarter of fiscal 2022 to more than $7.2 billion.
The company plans to use increased sustainability and digitization over the next few years to increase global sales using what it calls a “fully integrated store and online model.” The company is on track to meet its sustainability goals for the next few years and is confident in growing online sales.
“Inditex’s business model is characterized by full store and online integration offering the latest fashion with the right combination of quality and price to deliver a unique customer experience,” according to the company’s press release.
“The flexibility and responsiveness of the business model, combined with in-season proximity supply, enables rapid reaction to consumer demand with price stability and unique market positioning,” the company says.
Related: Zara Parent Inditex continues its digital transition and plans 30% e-commerce in 2024
Inditex first mentioned the 30% online sales target during its full year 2021 and fiscal fourth quarter results presentation in March, saying the transition began during the COVID-19 pandemic and shows few signs of reversal at this point.
Inditex has temporarily closed its stores in Russia and Ukraine as attacks continue there.
Marta Ortega, daughter of Inditex founder Amancio Ortega, took over as company president on April 1, replacing Pablo Isla. Óscar García Maceiras recently took office as the new CEO of Inditex.
Inditex has spent millions on its online presence with Zara and its other brands since the start of the pandemic in an attempt to create more digital market share.