Hagkaup shortlisted at Retail Week Interiors Awards!
Huge supermarkets used to be all about weekly friction free shopping – going in, walking up and down the aisles, and getting out. Customers had to fit in with business imperatives that focused on streamlining, process, and logistics on an industrial scale.
That’s all changing. People shop more frequently for fewer items, and want innovative experiences and places in which to dwell. Engaging ideas, compelling content, and shared space with other brands are the things that will keep them coming back.
Icelandic supermarket retailer Hagkaup partnered with us to revisit its flagship store proposition, customer experience, and environment to meet customers’ new shopping needs and fight off increasing competition. Not only this, but the flagship store footprint was reducing by almost 50% as a result of Hagkaup’s business strategy to lower fixed costs but use remaining square meters ‘smarter’ to maximise the profit of each and every one.
A focus on the theatre of the retail offer by thinking ‘less supermarket, more department store’ was imperative for Hagkaup’s flagship to stand out and ensure customers believe that this retailer offers better value for money than the price-based competition.
Five months post-relaunch, Hagkaup’s flagship year on year success is way beyond anyone’s expectations. The store now has more customers, more sales per square meter, and more EBIDTA than when it was double the size! And all this has happened against objectives to simply maintain YoY levels.
- Meteoric +180% increase in EBIDTA per square meter
- Unbelievable +53% rise in overall EBIDTA
- Massive +77% increase in sales per square meter
- Huge +13% more customers