Axia Corporation’s retail unit TV Sales & Home has extended its strong growth trajectory, posting another sharp rise in sales volumes as aggressive expansion, easier credit access and sustained consumer demand continue to drive performance.
The retailer, which recorded a 37 percent jump in sales volumes in the six months to 31 December, has maintained that momentum into the latest quarter, with parent company Axia reporting a 43 percent increase in volumes to 50,399 units and revenue growth of 49 percent in the three months to 31 March.
The latest figures suggest the retailer’s growth spurt was not a one-off festive season boost, but part of a broader upward trend as Zimbabwean consumers continue to spend on household furniture and appliances.
“The business witnessed revenue growth for the quarter of 49 percent and 43 percent increase on volumes to 50 399 units against prior year,” Axia said in its latest trading update.
TV Sales & Home emerged as one of the group’s standout performers in Axia’s half-year results, where management credited a combination of competitive pricing, expanded product offerings and more accessible credit for driving customer demand.
“The growth was primarily driven by the diverse and quality product range, competitive pricing and the availability of credit, which enabled more customers to acquire products offered by the business,” the company said.
That strategy appears to be paying off.
In the half-year period to December, the retailer sold 112,774 units, while turnover climbed 29 percent as customer traffic surged 33 percent year-on-year. The company’s credit book expanded 70 percent, underlining growing consumer reliance on hire purchase financing in a market where upfront cash purchases remain challenging for many households.
Management also moved aggressively to widen the retailer’s footprint.
During the reporting period, TV Sales & Home opened four new branches in Churchill, Mvurwi, Norton and Hogerty, extending its reach into both established urban centres and smaller markets. The business also entered a new niche through its first garrison outlet at Tongogara Barracks under the KG6 initiative, targeting military communities, with two more such stores expected by June.
The expansion comes against a comparatively stable economic backdrop in Zimbabwe, which Axia says has helped sustain demand.
“During the third quarter, the Group’s performance was underpinned by a stable macroeconomic environment in Zimbabwe, characterised by stable exchange rates and contained inflation. Demand continues to be strong,” the company said.
Analysts say TV Sales & Home’s performance reflects a retail model increasingly built around affordability and financing flexibility rather than purely discretionary spending.
The retailer’s continued investment in e-commerce, store growth and credit expansion positions it to deepen market share in a competitive consumer goods sector.
Axia, which also owns automotive parts retailer Transerv and logistics business Distribution Group Africa, reported group revenue of US$122 million in the half-year to December, up 22 percent from the same period last year. Profit before tax rose 28 percent to US$8.8 million.