The UK-based flooring retailer – Flooring Superstore at a rapid pace, made business expansion spanning across the national topography. As soon as the government lifted the trading restrictions in April, the company swiftly executed the plan. It opened seven stores in three weeks in Norwich, Lincoln, Hull, Basingstoke, Orpington, Carlisle, and Reading. The company invested more than £1 million in the expansion.
The pandemic made people stay home, and there was a spike in home improvement. The home improvements market surpassed $ 762.9 billion in 2020 and is estimated to reach a CAGR of more than 4.3% from 2021 to 2027. The company, therefore, earned profits in 2020, which accounted for an increase of 35% higher than the previous year crossing £35 million. The revenue growth encouraged them to start 25 more stores in 2021.
The company has made exceptional growth in business in a short span. The company got into the brick-and-mortar business in 2017, and by 2020 it employed more than 250 people and opened 23 outlets throughout the UK. The retailer said that since most people started online purchases during the pandemic, it pushed the sales high, and it gained the highest profits in history.
The retailer has a vast array of products for flooring like vinyl, real wood, laminate, grass, tiles, and more. The company offers free samples delivered to the client’s home.
The UK retail sales in 2020 were valued at £403 billion, with 28% of the spending shifted to online. The retail sector generated 5% of GDP (GVA) with an annual increase in sales of 45%.
The retailer expressed that the new stores would offer many people employment opportunities. The founders of the company are optimistic about the future.
The company offers more than 10000 products to style the floor. They also have eco-friendly products available. The store is a one-stop-shop for all the flooring needs. The company followed the multi-channel model that proved to be profitable and demonstrated strength in the business.
The company also revamped the logistics and considered better methods to follow to increase reliability. The company started its fleet that ensures safe and timely delivery of the products. The company has 85 vehicles and assures 99% next-day delivery. The funding of £ 5million from the growth partner enabled the company to expand the business.