Click:Connect:Sell - The Wiggle story

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No stranger to Olympic efforts Derek will tell the story of Wiggle and how they grew from a single shop in Portsmouth to become a global leader in their field exporting to over 90 countries and what they learnt along the way.

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Click:Connect:Sell - The Wiggle story

  1. 1. From 0 – 90 in 31million seconds: the Wiggle Story October 16, 2013 Derek Bouchard-Hall Head of Performance Development, Wiggle Ltd. 2 Presentation title - edit in the Master slide
  2. 2. From a local bike shop in 1999 and selling little internationally as late as 2009, Wiggle is now…  A global leader in online retail for cycling, running, and swimming  Diversified internationally: the majority of our sales come from outside the UK by selling into 90+countries, offering 14 currencies, and translating into French, Spanish, Dutch, Portuguese, Italian, German, Japanese, Chinese and Russian  Market leading, with an estimated 25% share in UK online market (No.1), and a 7% share of the worldwide online market (No. 2, but No. 1 within road and triathlon segments)  Provider of 17k products (40k SKUs) across 500+ brands  Owner of 3 brands, led by our cycling clothing brand dhb  Holder of £20m in stock within 67k sq ft of warehouse space across 3 sites in Portsmouth  Employer of 350+ staff across 4 sites (Portsmouth and London)  Leader in product content, approaching 500k product reviews and growing  Responder to over 50k emails per month in 10 languages 3
  3. 3. How did we do it? By being both opportunistic and calculating…  Tested the waters everywhere  Moved first where we could  Followed the opportunities – its easier to push a rolling ball  Continuously invested in improving the customer proposition  Continuously invested in understanding the local market  Sought to achieve sustainable competitive advantage 4
  4. 4. How did we do it? …and by getting our proposition right for the local market 1. Understand the local market 2. Develop a domain strategy 3. Invest in scalable IT solutions 4. Translate and localise 5. Learn about and adhere to regulations 6. Tailor your offering 7. Manage supply barriers 8. Market and advertise locally 9. Get pricing right 10. Optimise search 11. Let people pay how they want to 12. Optimise delivery for cost and service 13. Make returns as easy as possible 5
  5. 5. Key learning's along the way  Tailoring a website to the local market is necessary but not sufficient for success  Know the basis on which you compete – and win  The world is flattening in online retail, but it isn’t flat  International retailers face a local bias  Currency shifts are a blessing and a curse  Study the funnel 6
  6. 6. Questions 7

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