Kingfisher fast tracks multichannel investment after business bounces back online from Covid-19 – Strategy and Innovation
Kingfisher Group, parent company of B&Q and Screwfix, today said it had fast tracked plans to put its stores at the centre of its ecommerce business after trade bounced back online from the coronavirus pandemic. Online sales grew by 164% during the first half of its financial year to account for 19% of group sales, while overall sales dipped slightly but pre-tax profits grew by 62%.
It says that it moved quickly to respond to high levels of ecommerce demand during the first half of its financial year and would now focus on growing ecommerce sales and building a mobile-first customer experience. It is testing smaller store sizes – such as in a B&Q partnership to open stores-within-stores at branches of Asda – and says it will also prioritise better sourcing and responsible business practices.
The update came as Kingfisher reported sales of £5.9bn in the six months to July