‘Constant investment’: Boots urged to ramp up marketing despite market share surge
Despite notching up its 14th consecutive quarter of market share growth, Boots should ramp up investment to enhance its customer relationships, analysts suggest.
Boots claims to be driving “positive momentum” after delivering its 14th consecutive quarter of market share growth.
Fourth quarter retail sales grew 6.2% year-on-year, contributing to a 6.9% sales uplift for the full year ending 31 August. Pharmacy sales rose 10%, driven by strong demand for NHS and private services, while 55 new beauty brands were introduced in the year making Boots the UK’s leading beauty retailer.
On a results call yesterday (15 October), global Walgreens Boots Alliance CFO and executive vice-president, Manmohan Mahajan, claimed Boots UK “continues to perform well”.
Boots’ social media and influencer marketing – specifically in beauty – has contributed to its success, says retail analyst at GlobalData Tash Van Boxel, and is an area the retailer should grow going forward to “solidify its place as a market leader”.
