Secret to Hagkaup Success: And Another Gold Win!
With additional accolades from impact-led Transform Awards Europe, DBA Design Effectiveness Awards, World Retail Awards and Retail Week Interiors Awards, what’s the secret to Hagkaup’s commercial success?
A brilliantly brave client seeking innovative, meaningful change – and of course a great partnership that focuses on:
- Content as King!
- Creating a leisure visit, not a shopping visit
- Freeing staff to become storytellers
- Focus on things that can’t be replicated online
- Sharing space with great brands
- Making places into social hangouts
- And finally – in-store events shared across social media that keep shoppers coming back!
The story and results – in a nutshell
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.
Hagkaup’s flagship year on year success is way beyond anyone’s expectations. The revamped store has more customers, more sales per square meter, and more EBITDA than when it was double the size! And all this has happened against objectives to simply maintain YoY levels.
- Meteoric +180% increase in EBITDA per square meter
- Unbelievable +53% rise in overall EBITDA
- Massive +77% increase in sales per square meter
- Huge +13% more customers