Majestic, the UK’s leading specialist wine retailer, has announced plans for future growth inspired by its experience of lockdown.
The strategy will see new store openings this year as the company would like to uses stores as the base of its growth trajectory.
“Our stores are at the centre of who we are and what we do. The way they adapted to working as delivery hubs meant we were able to come through lockdown in good shape,” said John Colley, chief executive at Majestic.
“Who knows what the future will hold, but I feel confident that a new strategy based around stores is the best one for us.”
The retailer has seen over 150,000 new customers utlising their local delivery service, despite closing stores to walk in customers during the outbreak.
As part of the new strategy, Majestic will also redouble its staff training, alongside the launch of a new website and EPOS platform by Autumn this year.
Online sales increased by 300 per cent throughout lockdown for the business, and Colley noted that shopping habits are “definitely moving multi-channel.”
“It’s fair to say that the lockdown has accelerated some trends which have been in evidence for a while around this. Customers’ shopping habits are definitely moving multi-channel; to shop via the platform or route which serves them best at any one time, this may be home delivery, click and collect or a visit to stores.”
Owned by US investment firm Fortress following the break-up of Naked and Majestic Plc last year, the company hopes to reverse a trend which has seen the retailer’s profit number slide significantly over a five year period with the new strategy blending physical and online retailing.
“There is still absolutely a role for bricks and mortar wine retail in this country, particularly when backed up by a first rate range and the right focus with our hugely experienced and trained store colleagues. When you couple that with a leading online proposition, you have a unique position,” Colley said.
