Hey Big Spender: DJs Target China
As the department store scraps major discounting and sales promos, it looks to lure the luxury loving Asians.
The retailer launched a partnership with China card UnionPay today, allowing Chinese visitors pay for goods at the store renowned for luxury brands like Chanel and Coach, a move which David Jones may be hoping will lift sales.
‘From Wednesday, we will accept UnionPay,” a spokesperson confirmed to CN, earlier this week, China’s most widely used debit/credit card.
“We get about 700,000 Chinese tourist and add to that temporary residents in Australia” – a figure which is now likely to rise.
DJs are the first department store in Oz to accept the Chinese card, in association with CBA.
The news comes as the retailer announced a 3.4% slump in sales for its most recent quarter, Q3, this week. Beauty, Apparel and Swimwear were key performers as ‘Home’ goods including electronics took a battering.
The Chinese, who are now among David Jones’s wealthiest clients, spend double what their other international counterparts – like the long-suffering Europeans and Americans – spend per transaction, the company rep told CN.
UnionPay card is not only used in China, but is accepted in 141 countries and regions outside China, on over 2 billion bankcards, according to its website.
DJs are looking at the possibility of accepting other international cards also.
Company shares fell -2.28% to $2.57 on early trading today.