Discount chain B&M has revealed a rise in growth and profits along with plans to open a further 45 stores according to City.am. In the 53 weeks to 31 March, B&M reported revenues of £2.98bn, up 22.4 per cent on the comparable 52 week period in the previous year.
While other large retailers such Mothercare and Carpetright struggle, B&M Chief Executive Simon Arora is continuing with expansion plans and says in the Evening Standard:
We are agnostic whether [stores] come from existing operators or new space. Whether it’s M&S or a CMA-led disposal in the case of Sainsbury’s and Asda or a distressed retailer such as Homebase. We have an open mind, we don’t care.
“The B&M model is highly relevant for the current difficult economic environment, with its strong position in the value and convenience areas of retailing where physical stores are winning,” quotes City.am
B&M clearly understand their target audience and what they want to see on digital. The retailer’s social media platforms have a very personal feel to them with gifs, current news, product information and competitions. Their 73.9k followers on Twitter are actively promoted to ‘get in touch’.
This Facebook post is typical, with high engagement from their1,279,976 fans:
90k views and 1k likes on one post.
Homebase has been sold for £1 to restructuring firm Hilco Capital two years after Australian group Wesfarmers purchased it for £340m. The issues affecting Homebase are wide ranging and well documented and certainly not restricted to social media. However, their 372,961 followers (907,015 less than B&M) do not appear to find their visually attractive posts so relevant. This Facebook post only received 19 likes and no comments.
Social media is just one tool in a retailer’s toolbox but creating campaigns that resonate and engage with your audience is a key factor.
The #WDYT campaign helps equip towns, cities and retailers with the tools, advice and data they need to reach, attract and engage with their increasingly digital savvy visitors and customers.