The Company’s vision is to be a Nordic leader in retail through cost-efficiency, brand image, and an omnichannel and scalable business model.
The Company’s key focus is on growth: the goal is to grow to a company with a billion-euro revenue and to increase the market share in selected product categories. The Company aims to grow organically and may also look into expanding its operations outside of Finland. In addition, the Company may in the future consider seeking growth through corporate acquisitions or, for instance, partnership agreements, should an opportunity to do so arise. The Company focuses on the customer experience, seamless omnichannel business model, and improved brand marketing and invests in the retail store experience, website, and cost-saving technologies. Verkkokauppa.com’s goal is to be customers’ preferred channel-agnostic place for shopping and offer an always interesting and broad product range at competitive prices. The Company’s development relies on a growth strategy and it is furthered by new product categories suited for online retail. Day-to-day operations rely on the Company’s values defined in 2018, which are courage, agility, transparency, and community. The Company constantly investigates opportunities to include new products and product categories in its range and aims to strengthen its position as the most popular Finnish webstore.
The Company annually evaluates its strategy and may thus in the future possibly further specify its financial targets and strategic measures.
The Company aims to develop its customer experience further, which, according to the Company’s management, is expected to lead to increased visits in both channels of the Company and increased trust felt towards the Company. Simultaneously, the Company aims for an even stronger position as a reference service within Finnish online retail that is widely used as a source of price and product information and product evaluations in online shopping, where a consumer can find a product they need and that ranks high on a consumer’s list in terms of potential online stores.
Customer Value Proposition
The Company wants to offer its customers Finland’s best customer experience combining online and brick-and-mortar store sales, which consists of:
- competitive pricing,
- fast and seamless omnichannel transactions,
- a broad product range and good availability, and
- operational transparency and customer focus.
The elements of the Company’s customer promise are described below:
1. Competitive pricing
The Company aims to offer its products to its customers at an affordable price in accordance with its slogan “Probably always cheaper.” The Company aims to include products in its product range for which it can fulfil its customer promise. The Company sells its products to customers at the same price regardless of the sales channel or distribution method used (excluding costs for the delivery method chosen by the customer). In its pricing, the Company takes into consideration the sales margins of the products and seasonality in demand. Additionally, the Company aims to optimize inventory turnover.
2. Fast and seamless omnichannel transactions
Customers visiting the webstore value the functionality and speed of the site, and the functionality of the website is equally crucial to the brick-and-mortar store customers, as many customers begin the purchase process online and seek additional information on the Company’s website when and prior to visiting the store. The Company has invested in improving the customer experience in the webstore and making the retail stores more appealing by, among other things, personalizing the content on its website, further improving the operational reliability of the website, and streamlining the retail store pick-up process.
3. Broad product range and good availability
The Company offers a product range of some 60,000–70,000 items depending on the season and aims to offer a broader product range than its competitors in its main product categories. The Company’s product range is largely focused on consumer electronics, but in recent years, the Company has included products in its product range from new product categories, such as home and lighting, sports, and pets. The Company aims to offer the most appealing products and brands in the market. In addition to the webstore, customers can acquaint themselves with products and buy them at the Company’s retail stores and at the 24/7 sales and pick-up kiosk operating in conjunction with the Helsinki store. Customers can order their products to be delivered to the Company’s retail stores, to one of more than 3,000 pick-up points in Finland, or directly to their homes. The integrated warehouse in connection with the Helsinki store improves product availability in the capital area.
4. Operational transparency and customer focus
The Company’s aim is to offer its customers competent service both online and in the retail stores, with a particular focus on strong expertise in its main product categories, and to operate transparently towards customers. The Company provides its customers with product availability information and delivery times, and typically offers a 32-day right of return for its products, and it accepts responsibility for the return costs of the items returned in accordance with its guidance. The Company publishes product return percentages, communicates any product errors and products that have needed repairs to its customers, and publishes customer reviews of products. More than 386,000 customer reviews of the Company’s products have been published on the Company’s website.