Electricals retailer Maplin is to invest £40 million in new stores and multichannel development.
UK consumer electronics retailer Maplin is planning to spend £40 million over a 42-month period to create a fully integrated multichannel business.
Part of the investment will go towards enhancing the Maplin eCommerce site. Maplin is currently partnering with Shutl to offer 90-minute delivery slots to its customers. The company also plans to build on its social media presence and develop smartphone apps.
Maplin currently has 200 stores in operation; it plans to grow this number to 300 over the three-and-a-half years. The company is “wholly committed” to offering innovative, reliable electronics products to our customers at great prices, said CEO John Cleland.
“While there will be a short-term impact on profitability as a result of increased investment in our growth initiatives, this plan will bring significant benefits to our customers and improvements to the company as a whole.” The Maplin product range covers cables, communication, components, computing, home, car, music, power, satellite navigation, tools, television and satellite.
Retailers are investing heavily in eCommerce; such investment bringing many benefits: the opportunity to grow sales in the online sector, access to pricing intelligence, the ability to carry out competitor price monitoring and much more.
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