Jollyes’ CEO outlines ambitious growth strategies for the pet retailer following its acquisition by TDR Capital.
- The company aims to expand its physical store presence and enhance the customer experience through significant improvements.
- Efforts include revamping the loyalty programme and refining product offerings to strengthen brand positioning.
- Wykes highlights a strategic move away from selling live animals, freeing up space for better retail use.
- Digital expansion remains minimal, but the company sees potential in the growing online pet market.
Jollyes, under the leadership of CEO Joe Wykes, aims to transform into the UK’s leading value pet superstore. Post-acquisition by TDR Capital, Jollyes is poised for substantial growth, focusing on expanding its store network and upgrading the existing ones. The strategic plan includes a comprehensive overhaul of the loyalty programme to increase customer retention and enhance brand loyalty.
Wykes’ vision includes concentrated efforts to renovate Jollyes’ existing store portfolio and fortify its presence in strategic retail locations. The CEO mentioned that the company utilises demographic data, such as housing types, to select potential store sites, which correlates with pet ownership likelihood. A notable discussion point is the characteristic ‘piss proof’ flooring in stores, aimed at accommodating pet visitors.
A significant operational shift is in the decision to stop selling live animals, a move responding to ethical concerns from customers and internal teams. This strategic exit from selling live animals will allow more emphasis on providing value-driven product ranges and improving the shopping experience.
Despite the considerable emphasis on physical stores, Jollyes is cautious with its digital footprint, stating that online sales only account for 1% of total revenue. However, recognising the potential in the digital pet market, Jollyes considers this a future opportunity for growth, albeit secondary to its physical expansion.
The loyalty programme, a core part of Jollyes’ strategy, aims to become more visible and effective in driving consumer engagement. With around 1.1 million participants, it seeks to offer personalised discounts and incentives akin to popular supermarket loyalty cards. The programme’s evolution is partly driven by TDR’s influence, pushing the retailer to adopt a customer-centric approach while also addressing in-store pricing clarity.
Wykes’ strategic initiatives aim to firmly establish Jollyes as a top contender in the value pet retail space, leveraging both physical and potential digital channels.
