Established in Moscow in 1993, consumer electronics retail chain M. Video now includes 267 stores in 118 Russian cities. With a corporate mission to “make high-quality consumer electronic goods available to consumers with high quality service, ensure career opportunities for company employees and achieve appropriate conditions for creation and increase of company value, this retailer has devised a clear-cut 3 step strategy:
1. Increase market share based on a successful format
Grow the total number of stores by opening new stores in existing markets and in selected high growth markets, increase sales in current stores and continue to replicate the uniform, easy-to-navigate, customer-oriented store format that remains a key feature of M. video’s marketing concept.
2. Enhance key brand advantages
Strengthen customer loyalty by enhancing customer service, improving store concept and providing innovative products and solutions.
3. Focus on profitability
Continued improvement in managing product mix to support margin, investment in company IT systems, a focus on employees as a key business asset and introducing high-margin services.
In 2007, M. video became the first publicly traded company in the domestic consumer electronic retail sector. In 2009, their retail sales increased by 3.6% amounting to 83.3 billion rubles (including VAT). M.video ranks first in sales of electronics and household appliances on Russian retail market.
Interested in learning more about M.video? Meet them at MAPIC this November!
Top image credit: Masson