Amazing News From Perms Simply
Amazing News From Perms Simply.
75% up on the 1st Quarter last year! 21% up on previous 1st Quarter record!
Catherine Jenkins who has taken over responsibility for the running of the Perms Simply brand at Keen Think Ltd was able to report some sensational 1st Quarter results (April to June 2009/10 year) to the Board meeting of Keen Thinking Ltd last week.
Sales set a new record and were up by an amazing 75% on the same period last year.
To be fair, the same quarter period last year followed a downward trend seen since the previous 1st Quarter peak in the 2006/7 year.
However, the 2009/10 result is a new record for Perms Simply, eclipsing the first quarter peak of 2006/7 with an amazing of a 21% increase over the previous record.
Amazing of course when reports of difficulties in the Perm market show doom and gloom in almost every sector.
The Perms Simply result is simply bucking the trend. Catherine was asked to explain why and replied:- You can never be sure of why a sale works or doesnt but you can make educated guesses from the feedback you get and, perhaps surprisingly, from debtor day debtor payments.
The Perms Simply product offers a 12 month Rebate scheme, with 30 day payment terms but that rebate is forfeited if payment is not made to terms.
The combination of increased sales and reduced debtor days is saying to me that in these difficult times, Clients are more risk averse. They want to make sure that if a new starter leaves they have a good rebate scheme. That was always the case to some extent but Clients seemed to play at it. When you can relate increased sales with 12 months rebate terms, to the fact that Clients are making a real effort to ensure that they pay to terms, thereby validating the Rebate scheme, you can see that it is not just the HR team involved but accounts too so that every commercial advantage is kept open.
We know that the product has opened up opportunities for some to crack preferred supplier agreements and it also seems that in these tight money times, reducing the risk of wasting recruitment costs is seen as a significant defensive strategy for Clients accounts teams.
We think Catherine is being unduly modest but that there is something substantial in what she says.