New strategy: JYSK must be close to what is going on
From 1 September 2019, a new strategy with the name ”Seamless and Closer to the Customer” is rolled out in JYSK. The strategy has five key areas, which set the direction for our work during the next three years.
The period for the “Customer First” strategy was extended twice, but after five years, the time has come to look with fresh eyes at JYSK to make sure that we are continue being ready and close to what is happening in the market, in the world around us and in time.
The new strategy, “Seamless and Closer to the Customer”, will ensure growth in the years to come.
“After five successful years with Customer First as our guiding principle, there is a need for renewal. The members of the Executive Management Team have more than 140 years of combined experience in JYSK. Therefore it is very important that we take inspiration from outside to shed a different light on things and look at JYSK with fresh eyes. A lot is happening in the world around us, and JYSK must of course be close to what is going on,” says Jan Bøgh, CEO & President in JYSK.
"A lot is happening in the world around us, and JYSK must of course be close to what is going on.”
- Jan Bøgh | CEO & President in JYSK.
For the same reason, external help has been used to analyse and devise the new strategy. The company Accenture has helped to look at JYSK from the outside. It was among other things their job to look at what is happening in the market, and if JYSK is exceeding the expectations from the customers of the future.
Many employees involved
While Accenture’s experts from all over the world have delivered insight to the new strategy from their respective field, a lot of JYSK employees have been involved and part of defining the five vital areas, which set the direction for the next strategy period.
“The members of our Core Strategy Team have listened, evaluated and been part of making decisions based on the knowledge we got from Accenture. We have analysed ourselves carefully and looked at our possibilities and what we need to implement to ensure growth in the long term,” says Jan Bøgh.
Together the strategy team defined five key areas, which have become Deep Dives in the new strategy. Read Jan Bøgh’s explanation of the five Deep Dives here.
Seamless and closer to the customer
Even tough the new strategy comes with a new name, so that it is now changing from “Customer First” to “Seamless and Closer to the Customer”, the term Seamless is not new in JYSK. From being one of 16 focus areas on the JYSK Balanced Scorecard, it has now been heightened to be part of the name of the new strategy.
“Seamless means that the customer should not experience any bumps on the road, when they are shopping in JYSK, no matter how they choose to do it."
- Jan Bøgh | CEO & President in JYSK
“Seamless means that the customer should not experience any bumps on the road, when they are shopping in JYSK, no matter how they choose to do it. Whether it is online, in the store, if they choose delivery or pick-up in store, they should not come up against a brick wall anywhere,” explains Jan Bøgh.
With the last part of the name, “Closer to the Customer”, JYSK must continue being close to the customers with even more physical stores in the future. This also applies to delivery and picking up goods, so the warehouses are also getting closer to the customers. Last, but not least, it is all about providing the customers with great offers.
“We want to understand our customers and their needs, so we are able to a greater extent to customise offers for them. We very much intend to be close to our customers. We have to remember that they are the ones paying our salary,” underlines Jan Bøgh.
Continued focus on retail
This is one of the reasons why Customer First is not being discarded, but will continue in the new strategy period as a hashtag, like the four retail areas: Great Store Management, Attractive Stores, Easy Shopping and Competent Service will also be in focus.
“They are four important areas, which we are being evaluated on daily by the customers. Therefore it is important that we keep being sharp and still cultivate them. At the same time it is important to underline that the fundamental parts of the strategy house also remain the same, even though a new strategy is implemented. Our Values and Leadership are the foundation and a certainty that we can navigate the waters we find ourselves in,” says Jan Bøgh.
Even though the focus areas regarding retail continue being in focus, employees in the stores will also notice that a new strategy is now in place.
“When we have to be sharp online, this also means that we have to focus our attention on how we support that with our web of stores in the best way, and make it an advantage for the customers. If you for example want to buy a mattress, you can try it in the store and purchase it online,” says Jan Bøgh.
5,000 JYSK stores worldwide
With “Seamless and Closer to the Customer”, a new three-year strategy period is starting, but the goals and the visions for JYSK are still the same, according to Jan Bøgh. JYSK has to double its size to 5,000 stores worldwide.
“JYSK has to be the world’s most widespread and profitable chain of stores. This is the direction set in our vision. It is about sustaining momentum. Not just about adding to the topline."
- Jan Bøgh | CEO & President in JYSK.
“JYSK has to be the world’s most widespread and profitable chain of stores. This is the direction set in our vision. It is about sustaining momentum. Not just about adding to the topline,” says Jan Bøgh and continues:
“Of course we must not forget that there are people in other companies doing the exact same exercise as us. They also want a bigger piece of the cake. So it is also an exercise in being on our toes and always do our best no matter what.”