Strong retail execution, enhanced sales channels and loyalty programs, as well as improved supply chain management are just some of the areas JB Hi-Fi Group is investing in, as the retailer looks to provide even greater customer value, particularly in the lead up to major sales events.
JB Hi-Fi Group CEO, Terry Smart has shared details of the group’s focus areas throughout FY25.
- Retail execution and value promotion
“In a tougher retail trading environment, strong retail execution is vital. We will focus on actively demonstrating and providing value to our customers, especially during key sales events like Black Friday and Boxing Day. At the same time, we will leverage the efficiency of our operating model and focus on delivering exceptional customer service.”
2. Multi-channel growth
“We will continue to expand our reach and attract more shoppers both in-store and online. Two new JB Hi-Fi Australia stores and one The Good Guys store will open in FY25. We will continue to enhance our sales channels by growing our over the phone, chat, and video sales channels to meet changing shopping needs and will expand our JB Perks and The Good Guys Gold Service Extras membership programs.”
3. New Zealand expansion
“The expansion of our JB Hi-Fi New Zealand business continues with five new stores targeted to open in FY25. In addition to the growth in our store network, we are developing our commercial sales capability and investing in our workforce and systems to support ongoing growth. We expect growth in sales and increased scale will assist in improving gross margins and overall profit margins.”
4. Commercial growth
“Our commercial businesses remain an area of focus and an opportunity for growth for the group. We are actively growing our customer base across the corporate, government and education sectors, while further integrating with our retail businesses to drive customer lead generation and enhance the delivery experience.”
5. Supply chain optimisation
“Our investment in building and maintaining a fit-for-purpose supply chain network is ongoing. We are focused on creating best-in-class customer experiences with a number of initiatives underway including a new transport management system. In addition to this, we will optimise inventory flow during peak trade periods to enhance stock availability and ensure staff safety.”