talking retail A strong presence online
Sales rise by 59% YoY (Q2) for online homewares retailer Cox & Co - Housewares speaks with Dani Taylor, buying director at Cox & Cox
Please provide some background on Cox & Cox Cox & Cox was launched in 2001 after founder, Fiona Cox, found herself inundated with enquiries for a wall decoration she had made as a stylist and presenter on the BBC’s home makeover series Home Front. From that arose a desire to create a handpicked collection of homeware products that couldn't be found in traditional catalogues, with customers encouraged to find their own style, shunning trends and fads in favour of timeless pieces and impeccable taste. 18 years on, we are still scrupulously true to
our roots, scouring the globe for unique and eclectic products that are as easy to live with as they are beautiful, each piece carefully selected for individually-minded customers who want to create a home with style and flair. Based in Frome, Somerset, all of our products
are carefully chosen with you in mind. From inspirational, distinctive furniture and lighting, to attractive storage and decorative accessories, our ever-expanding online range combines brand new products and perennial favourites for a collection with the power to transform any space.
How is trading in the last few months? Cox & Cox continues to weather the Covid storm – we have seen sales rise by 59 per cent YoY in Q2, following on from an equally successful Q1.
What do you attribute that growth to? Customer orders were up 75 per cent YOY, consistently driven by increased sales in outdoor living and furniture. Not surprisingly, the biggest uplifts were in desks, office chairs and shelf units as customer buying shifted to creating more permanent home offices. In Outdoor Living, hanging chairs, both single and double, sold in record numbers.
And you have diversified into paint? Paint was launched towards the end of the Quarter and has proved to be an immediate success. We spend a lot of time choosing the perfect paint colours to use on our photoshoots and understand how overwhelming it can be to choose the perfect shade for your home. Our customers frequently ask about the paint we use, so we decided to create a small and considered collection that would pair well together. We spend a lot of time choosing the perfect
September 2020
paint colours to use on our photoshoots and understand how overwhelming it can be to choose the perfect shade for your home. Our customers frequently ask about the paint we use, so we decided to create a small and considered collection that would pair well together.
The industrial style tin adds some old fashioned charm, differentiating it from other popular brands, however it’s not style over substance. One frustration with normal tins is that they are really hard to open, they get messy and the rim is difficult to keep clean, making it difficult to close and get a good tight seal. Not only does our paint tin look beautiful, it travels really well, it is easy to wipe and close, and the latch means that it won’t spill or dry out as quickly.
What have been the main challenges as a business? While working hard to keep up with the strong increase in demand, the onus was put on operational efficiency, resulting in contribution ending 6.0 percentage points up on budget and 4.6 percentage points up on last year. This is a very strong set of results, and we
have continued to grow share and improve customer performance throughout the Quarter. Most encouraging is the way that the business has responded to the ‘golden problems’ that running ahead of forecast has created, developing and executing solutions quickly and collaboratively. With sales peaking in May, Cox & Cox finished the month 96 per cent up on last year.
How do you explain this growth? The company’s decision to keep marketing aggressively continued to pay off, with improved returns and performance across the board. Customer retention has increased 25 per cent YoY over the last quarter, while new customer acquisition has more than doubled. All ecommerce channels have seen significant increases, breaking traffic volume and concurrent user records.
What is your outlook for Autumn and beyond? Autumn sees some exciting new product launches, including freestanding kitchens, and the much anticipated launch of Christmas ranges for 2020. Having delayed marketing activity towards the end of Quarter 2 to rebuild stock levels, and following a virtual Christmas press event, consisting of a series of 7 trend films recorded
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specifically for the purpose, Q3 is already off to a strong start with August running at 170 per cent up. We go into Autumn with a much bigger, more engaged base than we were expecting, and our new ranges and Christmas are already selling well. We expect to attract even more interest as we get deeper in the season and operationally are well placed to take full advantage.
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