B&Q Marketplace are continuing their mission to become the marketplace for everything in the home, with the launch of the Cameras and Wearable Tech category.
This comes after strong results for the B&Q Marketplace with some great numbers, especially when measured against a late spring and continuing constrained spending from consumers. B&Q reported that GMV on their marketplace is up 29%, ecommerce sales up 16% and their online penetration increased from 16% to 19%.
This means that the B&Q marketplace is growing considerably faster than B&Q’s ecommerce sales, which is what you would expect as the platform accelerates and is a sign of a healthy marketplace. It means they’re getting the right products in front of the right consumers and customers are loving the shopping experience.
We delivered a resilient start to the year, executing well and gaining market share against a soft market backdrop. Sales including marketplace grew +0.8%, with core categories proving resilient – even as a late start to spring impacted footfall and seasonal demand. E-commerce and trade sales both delivered double-digit growth, underlining the momentum in our key growth drivers.
While mindful of the consumer environment, we remain absolutely focused on delivering our strategy, disciplined gross margin and cost management, and consistent shareholder returns. We are confident in achieving our fullyear guidance and are well positioned to capitalise on the attractive long-term growth opportunities across our markets.
– Thierry Garnier, Chief Executive Officer, Kingfisher
Hear from B&Q Marketplace at ChannelX World
To hear more about the opportunity on the B&Q Marketplace, grab your ticket for ChannelX World taking place next week on the 17th of June, where you’ll be able to hear from David Jaffe, Director of Sales Operations & Growth Strategy at Kingfisher, B&Q’s parent company. David will be revealing how sellers should think about B&Q and where they can truly win within their marketplace.
If you’re ready to start selling on B&Q, you can apply to sell on their marketplace as a partner here.
