The Nordic pet retailer Musti Group published its this year‘s net sales of €340.9 million ($383.8M).
“During the financial year our sales grew by 20%, gained market share in all markets, acquired a record number of new customers, including the parents of more than 50% of new puppies welcomed into families, and did so while increasing our gross margin,” CEO David Rönnberg shares.
The company’s customer base increased to 1.3 million customers (an increase of 13%). Musti keeps aiming to win around new Nordic customers. The company wants to achieve an increase by focussing on pet adoption.
The retailer owns 312 stores in total (134 in Finland, 128 in Sweden and 50 in Norway). The online sales increased to a 23.1 % of total sales.
To assure ist position on the market, Musti has invested in pet parenting such as puppy and kitten clubs.
“There is significant upside from educating Pet Parents about the nutritional benefits of premium food and encouraging them to conduct most of their pet related purchases at Musti Group. To widen our reach and further deepen the engagement of our customers, Musti is developing an ecosystem approach for Nordic Pet Parents targeting further increase in spend and customer loyalty.”
The company aimed to increase the average spend per buyer by 5 % to €188.3 ($212).
One main point of the strategy is pushing the sales of their own and exclusive products on Musti Group’s channels.
“During the year, we increased the share of own and exclusive products to 51% of all products. This was a large factor in our gross margin increase to 45.7%, compared to 43.8%.”
An example for the company’s strategy is the partnership with VASO Group in Sweden.
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