Results that speak for themselves
We cut to 2022, when the results of the new solution have materialised. In just a few years, it has laid the foundations for remarkable progress:
- In 2020, the company had a revenue of DKK 3.2 billion. By 2021, revenue had risen to DKK 4.2 billion. During this period, the website has seen a 25.3% increase in revenue, and revenue from EDI integrations increased by 39.6%.
- 80% of all shoppers visit the web shop before placing an order. It is therefore key across individual customer journeys.
- A focus on personalisation and relevance has led to a 14% drop in bounce rates, while page views have increased by 25%. In addition, there has been a 12% growth in the number of users on the website over the past year.
- Over 70% of all orders are placed via digital channels.
But how have such impressive results been achieved? Let's rewind to 2019, when it all began...
Ready for tomorrow
... is the title of EET's strategic direction. And a focus on being fit for the future market was therefore central to the new e-commerce solution.
EET wanted to be the natural consolidator in a fragmented but growing market driven by secular trends. And a new and updated online store should reflect that.
The ambition was to create a unified commerce solution that would act as a coherent and common platform across countries, departments, processes and channels. It should support a business evolution from a classic physical distributor with a focus on good local sales interaction and manually handled growth to a leading European one-stop-shop with the customer at the centre.
The digital platform should be a catalyst for business development. It would deliver on ambitions such as revenue growth, cost efficiency, product quality and customer satisfaction.
Success criteria
Specifically, the following six criteria were at the heart of the new solution:
- Increased revenue
- High performance
- Scalable platform
- Value-creating sales
- Improved self-service
- Increased customer satisfaction
Scaling required the solution to be able to, among other things, be extended to new markets with new languages, integrate acquired companies, and adapt to new industries and customers. In addition, quick creation of new brands, product categories and suppliers were a matter of course.
The solution architecture
The solution has also resulted in:
- Product creation being streamlined to create 8000 products per month.
- Customer satisfaction as measured by NPS increasing from 26% to 35%. This is significant in an industry where the average NPS score is 3.9%.
- EET Group has acquired 48 IT companies, which have been smoothly integrated into the new e-commerce solution. This includes the latest acquisition, Oprema in the UK, which has expanded with a white-label web shop at Oprema.co.uk
The day after tomorrow
EET Group has packed the future with plans that support the value chain and will further optimise the customer and buying experience.
New technologies and features will bind customers even closer to the business and ensure that growth continues on the same steep curve in the years to come. The journey is far from over for the successful company, which is continuing to roar through the digital landscape.
In just one year, revenue has increased by DKK 1 billion. A top growth of 30%.
