Business

Pernambucanas' credit arm has over 1 million digital accounts

The digital account was launched by the centenary Brazilian retailer April last year

Photo: Jo Galvao/Shutterstock
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  • Through these accounts they can pay not only bills linked to purchases made in Pernambucanas stores, but also pay for services such as Uber and Netflix;
  • The company did not open 2019 revenue data to Exame magazine, but informed that due to its news digital services the flow of customers in its stores has increased by 20%.

The focus on fashion, home goods and store-in-store partnerships in the beauty and personal care segment, in addition to investments to digitize its credit arm are finally paying off for the centenary Brazilian retailer Pernambucanas.

According to Exame magazine, the company’s digital account launched in April last year has grown at full steam. More than 1 million customers already have one. Through these accounts they can pay not only bills linked to purchases made in Pernambucanas stores, but also pay for services such as Uber and Netflix.

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According to the publication, digital services available through Pernambucanas’s app and totems, which include actions such as discounts coupons and special sales, collaborated to increase the flow of customers in stores by 20%. In 2019, according to Exame, sales made through digital channels reached BRL 135.9 million.

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The company did not open 2019 revenue data to the magazine. Still in 2018, the last result released, the company made almost BRL 500 million in profits, but most of these gains (more than BRL 400 million) came from a lawsuit that questioned the inclusion of the ICMS tax in the calculation of two other federal taxes, called PIS and Cofins.

When it comes to beauty and personal care area, the company gave up investing directly in the area to bet on partnerships with two popular cosmetics brands: Avon, that now belongs to Natura&Co, in July, and Jequiti, in December last year. These brands will start selling their products inside the retailer’s stores–32 stores in the case of Avon, and around 30 in the case of Jequiti.