2 Presentation title - edit in the Master slide

 

From 0 – 90 in 31million seconds: the Wiggle Story

October 16, 2013Derek Bouchard-HallHead of Performance Development, Wiggle Ltd.

3

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

4

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

5

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

6

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

7

Questions