10th October, 2016 by Arabella Mileham - This article is over multiple pages: 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16
Buyers: six (four wine, one Champagne, one beer and spirits)
Range: c. 1,000, cut from 1,200 a year ago
Sweet spot for sales: £8-£10
Annual retail turnover: £244m
An eventful 18 months has seen Majestic go from rudderless business to one en route to deliver £500m sales within three years. But the real battle to take market share from its competitors may be a longer road.
The signs seem promising though, after making the stores easier to shop, with new pricing, less clutter and a “tidied up” range targeted by demographic across its varied estate. Cutting the range from 1,200 to around 1,000 SKUs boosted working capital to the tune of £5m, new retail boss John Colley admitted, and this month a summer price-matching scheme is being rolled out.
Next on the list is online, with named day collection and click & collect made possible by a central warehouse, and a new tasting club, cementing Colley’s determination to talk to consumers and grow customer loyalty.
One plank in this is the commitment to exclusive parcels of wine, along with a new tasting club that offer a new series of personalized tasting events to customers through its retail stores.
Range-wise, Old World is doing well, and New Zealand has done better than expected (Majestic’s top-selling whites all hail from New Zealand), while craft spirits also saw double-digit growth