Jollyes CEO Joe Wykes, having led the company for two years, is determined to push forward ambitious growth and innovation strategies for the pet retailer.
- After being acquired by TDR Capital, Wykes emphasizes transforming Jollyes into the UK’s top value pet superstore.
- Key focuses include expanding store locations, revamping operations, enhancing the loyalty program, and boosting product variety.
- Data-driven store placement and attention to customer preferences are integral to Jollyes’ strategy.
- Wykes seeks to balance physical store growth with potential online expansion, despite current low ecommerce sales.
Joe Wykes, CEO of Jollyes, is embarking on an ambitious journey to reshape the pet retail landscape. With Jollyes now under the ownership of TDR Capital, Wykes envisions turning the company into the foremost value pet superstore in the UK. “We’re gearing ourselves up for our next phase of growth where we really, really want to attack the market in a big way,” said Wykes, indicating strong intentions to significantly enhance the business.
The focus on growth is evident with the continued expansion of store locations. By September, Jollyes had opened its 106th store in York, part of a broader aim to reach strategic locations identified through UK census data. The approach is targeted, analyzing residential types and family concentrations to predict pet ownership and, subsequently, store success. As Wykes notes, “We look for things like whether you live in a semi-detached or detached house. We think that’s a proxy of having a garden and having a garden is proxy to having a pet.” This data-driven strategy ensures that Jollyes opens new stores in optimal locations.
Wykes acknowledges the challenges of the retail landscape, particularly regarding finding suitable retail park spaces, which are essential due to the typical weight and volume of customer purchases. Compared to the original Jollyes store, which was much larger, current stores are more compact, focusing on a curated product range. This shift includes eliminating live animals from stores to create space for more customer-valued products, addressing ethical concerns and operational inefficiencies.
The revitalization of Jollyes’ loyalty program is a significant priority, as it currently engages about 80% of customers. Wykes admits that while the previous strategy was stable, new ownership encourages a more customer-focused approach. This involves transitioning from a till-driven to a shelf-led pricing mechanic to enhance customer experience and clarity. Future plans include personalized offers across pet categories, potentially through a digital platform.
Although online sales currently represent a small fraction of the company’s revenue, Wykes sees ecommerce as a future opportunity. He notes the logistical challenges of online pet food sales but acknowledges the rapidly growing digital market’s potential. Jollyes aims to strengthen its physical presence while exploring digital expansion to complement it in the longer term.
Maintaining affordability remains crucial for Jollyes, especially given the economic challenges. The retailer has managed to keep prices stable despite significant inflation impacts, partly by increasing its own-brand offerings. Changes in consumer behavior, driven by cost-of-living pressures, have also influenced Jollyes’ strategic choices, with customers shifting to smaller or lower-cost product options.
Jollyes’ strategic expansion and refinement under Joe Wykes’ leadership aim to secure its position as a leading value-driven pet retailer.
