Giorgi Basiladze, head of Gtex Group, a leading importer of clothing, accessories and furniture brands such as OVS, Terranova, Penti, English Home, Enza Home, Mattalan, talks about the changed behavior of consumers during the COVID-19 pandemic.
According to Basiladze, the amount of money on the receipt has increased, but the number has decreased, as well as the conversion rate (the percentage between the incoming customer and the receipt) that means that customers come into stores only if they want to purchase goods they need.
"Consumer’s behavior has changed, due to the danger of infection, many go shopping to buy a specific item. The activity has decreased, but the conversion rate has increased, ”Basiladze explains.
In Basiladze’s words, a consumer of relatively budget products, is even more interested in the budget ones but still the number of consumers in the high-value segment has increased drastically.
"These are the consumers who used to go abroad to buy products there, now they cannot go and are forced to buy here," – Basiladze notes.
Recall that Gtex was founded in 2007 and imported in Georgia the brands such as OVS, Penti, Terranova, English Home, Enza Home in Georgia.