Made.com reports digitally-driven record results
Written by Peter Walker
Made.com has reported record results for 2018, with total revenue rising 37 per cent year-on-year to £173 million, driven by its mix of digital channels and in-store experiences.
Revenue in the UK hit £100 million for the first time, up by just over a third year-on-year to account for 58 per cent of the furniture retailer’s turnover.
International revenue rose 40 per cent to £73 million, following a launch into Spain last October.
The business currently trades in nine markets across Europe and in 2019 it plans to expand to another four – Portugal, Italy, Denmark and Sweden.
Chief executive Philippe Chainieux said 2019 will see Europe overtaking the UK as the retailer’s biggest market.
“We had a strong year in 2018, at a time when the retail sector is going through unprecedented change,” he commented. “Over the past 18 months, we have seen an accelerating trend towards customers shopping online for big ticket items, driven by a massive shift in consumer behaviours and the rise of the digital generation.”
Made.com recently upgraded and enlarged its flagship showroom in Soho, central London.
“For us being a digitally-native brand, online will always come first, but we know a human connection with the brand can be a valuable midpoint in our customer journey,” chief creative officer Jo Jackson explained. “We are doing something different with our physical spaces, they are not shops, they are brand experiences.
Jackson continued: “From being able to touch and feel fabrics, discovering new trends, getting personal style advice, attending a workshop with one of our independent designers, or even playing with new tech we are testing out in the space, these are all steps to build a deeper, and more personalised relationship with our customer.”
Chainieux added that he is aiming for Made.com’s to be the leading design brand for the digital generation across Europe. “The digital ‘Millennial’ audience will account for 50 per cent of consumers by 2022 and as such, to succeed it is important to craft an interaction where they are, meeting their expectations and building a design experience around them.”