Dick Smith Big, Big Expansion: 20 New Stores, New Accessories + Security Products
The retailer, who recently announced 5% increase in profits of $42.1 million for fy14, plans to expand its range of private label electronics, fitness and wearables in FY15.
“We have a new and growing range which includes wearable and fitness technology and private label products in pet accessories, baby monitors, tablets and security,” a Dick Smith spokesperson told CN.
The new product ranges are in response to growing consumer demand, as wearables become big business and GoPro recently launched the first camera accessory for pets, GoPro Fetch.
The retailer also wants to grow private label sales to 15% of total. It currently stands at 11.5%.
The retailer’s online sales is currently higher than rivals including JB Hi-Fi, at 4% of the total figure, which it attributed to its “extensive range of products” and “leveraging our multiple omni-channel platforms.”
Web sales grew 55% in FY14. The listed retailer is also aiming to double online sales to 10%.
The introduction of ‘Pay & Collect’ for online customers where they pay online and collect instore will help support further growth.
Dick Smith plans to extend its e-commerce push in FY15, and launch a new ‘Move’ web store which it says will meet the demand for portable and wearable technology and accessories. It will also ship internationally.
“Our continued focus is on growing the store network, expanding our omni-channel offering, driving growth in our mobility category and expanding our private label offering,” the spokesperson added.
Last week, the retailer also announced the expansion of Move stores into several Sydney airport locations in an new partnership with duty free operator, Gebr. Heinemann.
Dick Smith also plans to open three new Move stores expected to open before Christmas as well as 20 new stores, in total, in 2015.