Godfreys launches turnaround campaign

Godfreys begins aggressive advertising campaign as part of turnaround strategy.

Godfreys has launched an aggressive advertising campaign as part of the vacuum retailer’s turnaround strategy.

From Tuesday 27 June Godfreys will be advertising major discounts across television, print and social media as the company seeks to reduce warehouse stocks.

Godfreys managing director John Hardy said it was important to generate excitement among customers and staff as the turnaround process gathers pace.

“Godfreys’ previous advertising campaign was designed to increase the company’s profile,” Hardy said. “However it did not reflect in sales. This one is about encouraging people back into our stores.”

Earlier this year Godfreys attributed its significant sales decline to changes made to its television advertising campaign in April and May 2018, designed to reduce the company’s reliance on current discount and sales-based approach by focusing more on product features and benefits.

Following the release of the campaign Godfreys said the marketing changes “have not resonated with Godfreys’ existing customer base and as such the company as reverted to the previous television advertising approach”.

Hardy said the company has since increased its offering with a new stick vac range, while a “revolutionary steam cleaner” is due to arrive soon.

Hardy, who was appointed CEO in May having previously served as chief from 1983 to 2010 and again from mid-2016 to December 2017, has not ruled out the possibility of reviving one of Godfreys’ most famous ads which featured him lifting a bowling ball using the suction of a vacuum cleaner.

Arcade Finance now has control of more than 91 per cent of Godfreys’ shares following a takeover bid from 99-year-old co-founder John Johnston in April.

The company will commence compulsory acquisition of the remaining shares once the offer period has closed on 27 June.

The retailer will also be de-listed from the Australian Securities Exchange at the close of trade on Wednesday 11 July, 2018 and return to private ownership.


Leave a comment:

Your email address will not be published. All fields are required