Tourism drives sales for Ethiopian retailer

Tina Milton

Print Article E-Mail Article E-Mail Author

Ethiopian Tourist Trading Enterprise (ETTE) has beaten its nine-month sales target until the end of March by 7.4% as a result of increased international traffic

Ethiopian Tourist Trading Enterprise (ETTE) has recorded a 9.4% year-on-year sales increase to Birr62.8m ($7.21m) for the nine months ending March 31. The company ended 7.4% above its original sales target of Birr57.8m ($6.64m). ETTE general manager Assefa Guya told RavenFox.com that the increase had been driven by strong tourism levels and business traffic fuelled by a number of international conferences held in Ethiopian capital Addis Ababa.

"The Japanese have started coming to the airport and have shown an interest in souvenirs, silver and traditional garments," said Assefa. "The number of Chinese passengers is also increasing."

The company opened a new shop at the United Nations Economic Commission for Africa at the beginning of the year, selling fragrances and cosmetics, luggage, tobacco and accessories. Guya said the company plans to add a liquor offer soon. He reported that its venture to sell duty-free cars to the diplomatic community, which began six months ago, has also been successful.

The liquor category drives the majority of group sales, accounting for 70% of revenues, although tobacco, fragrances and jewellery are also increasing in popularity. "We used to sell luxury brands such as VSOP cognac but now we are diversifying into the market for French and South African wine to suit the tastes of diplomats from all over the world," said Assefa.

ETTE has three shops at Addis Ababa Bole International airport, a VIP store, a 42sq m (450sq ft) departures shop and a similar-sized arrivals outlet. It also runs several downtown duty-paid souvenir shops and diplomatic stores and has plans for a new downtown shop. ETTE is to install a new barcoding system at its airport stores to introduce a "faster and more efficient service".