The Furniture 2021 report gives retailers and brands strategic and commercial insight into the $1.33trn furniture sector. Inside, we explore how the market is evolving - including which pureplays, marketplaces and out-of-sector retailers are joining in.
Digital Editor, Scarlette Isaac, looks at the BHG Group’s growth within the furniture scene.
BHG Group: successful disruptor
Sweden’s BHG Group has been a disruptor since day one. Set up in 2012 with the express mission to reinvent furniture retail, the company has evolved to be a technology-driven furniture and homewares seller designed to make shopping easier for consumers.
Today the company is the self-proclaimed number one consumer ecommerce company in the Nordics and also has a strong and growing presence across most of Eastern and Central Europe. Its strong position in these markets makes it one of the largest European pureplays within the home improvement market, cornering both DIY and home furnishings – offering around a million products and a complete offering within DIY, leisure products, furniture and furnishings to more than 1 million customers.
Despite being a tech driven business and ecommerce powerhouse, the company operates an ecosystem of online stores closely supported by physical destinations that act as showrooms, advice centres and distribution hubs. The company also offers a matching service – to match items and create a ‘look’ – as well as installation.
According to the company, its business operations are scalable, with low tiedup capital and limited inventory levels. The business model is based on building blocks such as category dominance, price matching, a first-class online customer experience, the market’s best professional service and support, and cost efficiency.
The retailer has seen significant and sustained growth over the past five years, with a rapid acceleration in 2019/2020, driven by the lockdown boom in home revamping.
As a result it has gone on the M&A trail, buying Svenssons i Lammhult, announced in the first quarter 2021, and Hafa Bathroom Group, announced in the second quarter, were approved by the Swedish Competition Authority and could therefore be completed. Both businesses were consolidated as of 1 May.
via https://AiUpNow.com December 8, 2021 at 05:02AM by Scarlette Isaac, Khareem Sudlow,
