Myer’s concentration on multi-channelling and meeting customer’s demand to be able to shop anywhere, anytime is keeping it afloat in the challenging trading environment.

CEO Bernie Brookes said that its MYER one loyalty program represents a significant competitive advantage and a unique opportunity to support its multi-channel strategy.

“We are well progressed in developing a fully integrated multi-channel offer for consumers, including our stores, online and mobile. The redevelopment of our digital and online offer will deliver a new e-commerce site, MYER one personalisation, click and collect in stores, a private shopping club for our top MYER one members, myfind super deals online, as well as other initiatives currently under development,” he said.

“With approximately 11 million unique visits to our website during the last 12 months, there remains significant potential to provide a leading multi-channel offer leveraged off our strong brand, store network, and world class supply chain.”

The department store reported a net profit after tax result of $162.7 million. Meanwhile, sales were down 3.8 per cent to $3.16 million and on a like-for-like basis it was down 5.5 per cent.

But sales to Myer One customers alone were over $2 billion in the 2011 financial year. On average, Myer One members spent 3.6 times the value of their reward gift cards on redemption.

According to the company, a number of key initiatives are currently underway to further develop its multi-channel offer including improved rewards, to relaunch its e-commerce offer and to further increase its digital and social media presence. This multi-channel strategy also includes expanding its network with the opening of two new stores at Mackay and Townsville.

“We are currently making significant improvements to the website, including the redevelopment of our digital and online presence to deliver a new e-commerce site, Myer One personalisation, click and collect in stores, a private shopping club for our top Myer One members, super deals online, as well as other initiatives currently under development,” the company said in a statement.

“Our offer of free delivery on most online purchases has been well received by customers and we are encouraged by the rapid growth in our online sales.

“Myer continued its transformation into a multi-channel retailer. Digital and traditional marketing have been integrated, while an improved e-commerce offering complements the store network. We have an increasing presence in social media including Facebook and Twitter and have introduced additional video content. Digital communications were fully integrated into seasonal marketing campaigns during the last 18 months.

“As we develop our multi-channel strategy the competitive advantage that our Myer one loyalty program provides will become increasingly important, particularly with the planned personalisation of the website for our Myer one members.”

As the company assumes that trading conditions will remain the same, it anticipates that sales for the 2012 financial year to be flat and NPAT to be up to 10 per cent below 2011 financial year of $162.7 million.

“Global and domestic economic conditions will dictate when consumer confidence returns to more normal levels. Myer is very well positioned to benefit from any improvements in discretionary retail conditions when they occur,” the company said.