New Strategy Being Recognised For CarShop's Milestone Profit

New Strategy Being Recognised For CarShop's Milestone Profit

Award-winning car supermarket, CarShop, is one of the UK’s largest car supermarket groups; having recently accomplished an impressive 113 per cent year-on-year increase in 2015, the retailer has achieved record profits of £5 million before tax.

CarShop has seen its strong growth continue into 2016 as sales for the first quarter of the year were up by 25 per cent. Retail sales are predicted to reach around 24,000 in 2016, which compares very favourably against the company’s 2015 figure of 20,418.

Established in 1999, CEO, Jonathan Dunkley, mentions that the reasoning behind the transformation goes back to around four years ago where he felt it was a necessity to review CarShop’s strategy in, not only terms of digital and customer experience but also in terms of supply.

With stores spanning across England and Wales, Jonathan Dunkley’s mission has been a long journey, with a great deal of development, implementation and refinement of CarShop’s strategy. Since the revival four years ago, the company hasn’t looked back, seeing a significant profit growth, and also cementing its position as a clear market leader.

Improvements created under the new strategy include investment in CarShop’s Business Intelligence teams, aiding each store with well-defined ideal stock requirements and precise pricing. Also, a re-engineered supply of contracts with leasing companies has been organised in order to gain more control and certainty over the volume and mix supplied, and increased stock funding facilities to support CarShop’s growth objectives.

Data and digital has also been embedded into the heart of CarShop’s culture with goals to ensure that CarShop is the best car shop in town. By firmly implanting these factors into behaviours and competencies, the way that CarShop now listen to and look after their customers has allowed the business to develop and improve its customer journeys and processes.

The achievement enjoyed by CarShop was fundamentally due to developing four key areas: investment in data and insight; the firm’s vehicle acquisition strategy; the enhanced application of digital technologies; and embedding its core values into its operations.

Describing the 2015 figures as ‘a great result’ Jonathan Dunkley said the company had been on an ‘interesting and exciting journey of evolution’ in the three years he has been CEO with CarShop's strong growth trend continuing in to 2016, - unit sales for the first quarter of the year increased by 25%.

With a 552 hard-working and dedicated workforce bringing this strategy to life, CarShop has a very proud team who are very proud to be part of the transition that’s taken place. The growth remains very positive and the focus will be on continuing to grow sales to capacity of the five existing locations with consideration in to a number of real estate options in order to open a sixth store by early 2017.

  • On: 19 April 2016
  • By: CarShop

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