Jollyes CEO Joe Wykes outlines ambitious plans following TDR Capital’s acquisition.
- Store expansion, revamping, and brand awareness are top priorities for growth.
- Loyalty programme and product range improvements are ongoing.
- Challenges include balancing store and online sales strategies.
- Focus on value post-acquisition with continued pricing stability.
Jollyes’ CEO, Joe Wykes, is laying out an ambitious plan to reshape the pet retail landscape in the UK. After TDR Capital’s acquisition of Jollyes earlier this year, Wykes is determined to transform the company into the UK’s leading value pet superstore. He emphasises that the company is ready to ‘attack the market in a big way’, focusing on expansion and operational refinement.
As part of this growth strategy, Jollyes plans to increase its store count significantly. The recent opening of their 106th store in York showcases their commitment to expansion. Each new store offers a diverse range of products, including general and pet-specific items, alongside community vet clinics. The selection of store locations is data-driven, utilising UK census data to target areas with high potential for pet ownership. This strategic location targeting is aimed at maximising the company’s reach and potential customer base.
An overhaul of the existing store portfolio and enhancement of the loyalty programme are also on Wykes’ agenda. He acknowledges that while the loyalty scheme is strong, further improvements could bolster customer engagement. ‘We’re refining our customer proposition and strengthening our management team,’ he states, indicating that internal processes are as much a focus as customer-facing improvements.
One major shift in strategy is the move away from selling live animals in stores, a decision that frees up in-store space and aligns with ethical concerns expressed by customers and employees. Wykes explains this allows Jollyes to reinvest in providing greater value to customers.
A balance between physical stores and online presence is crucial, with Jollyes currently prioritising brick-and-mortar growth over e-commerce. Online sales represent a small fraction of total sales, and logistical challenges with heavy, low-value items like pet food persist. Wykes notes that while the digital market is growing rapidly, the immediate focus remains on enhancing in-store experience.
With inflationary pressures impacting pricing, Jollyes has maintained stable prices, particularly emphasising their own-brand products to offset margin erosion caused by larger brands. Wykes explains that this strategy has resulted in shifts in consumer purchasing behaviours, particularly with respect to product sizes.
The integration of more personalised offers through a possibly revamped loyalty programme is anticipated to drive more customers through Jollyes’ doors. However, Wykes is aware of existing challenges, ‘The extra pricing on shelf labels is a bit confusing at the moment. We have some decluttering to do,’ he admits, showing a commitment to simplifying the customer experience. Finally, despite partnerships with TDR investments like Asda being unlikely due to pet store dynamics, the focus remains on solidifying Jollyes’ standing as a top value choice for pet owners.
Jollyes is firmly positioned to expand and innovate under Wykes’ strategic direction, promising enhanced value and experience for pet owners across the UK.
