New BargainMax CEO Alex Woolfstein chats to Toy World about his 2023 plans for the online retailer and how he is anticipating 40% growth.
Billed as ‘the home of cheap toys, games and kids homewares online for children of all ages’ BargainMax is reaping the rewards as more consumers look for that bargain buy.
Alex Woolfstein tells Toy World that in the current cost-of-living crisis, the business is positioned well and carries most new and current product at price points which fit within its own margin requirements.
“We are not ashamed about the great pricing opportunities we offer,” he states, adding that more and more suppliers are now getting onboard with BargainMax.
“Suppliers want to be part of our journey as they recognise the reach our website has, the new segments of the market that we can reach, and they want their product to be part of that.”
To ensure that customers have an even more efficient and friendly service, Alex has set about updating the website to make it more streamlined, incorporating new ways of interacting with purchasers including using a WhatsApp feature to be introduced very soon.
The company has also placed a great focus on enhancing logistics and recently moved to a new distribution centre at PLP Ellesmere Port, where it is hoped that stock levels can be doubled to between 4,000 and 4,500 SKUs and many more orders can be processed.
“In the previous warehouse, we could only dispatch 5,000 orders a day at a pinch, and we need to be able to process triple that amount at peak times,” he explains. “The new warehouse is a much better set-up and is built for scale.”
Alex is confident that all the improvements will bolster his plans for 40% growth this year – a seemingly ambitious goal, but one he is confident of achieving. The bulk of BargainMax’s offering is branded toys and licences and he forecasts that licensed toys will have another great year in 2023 with top-sellers to include Mattel’s Monster High range and Disney100 lines.
To read the full article in the March issue of Toy World, click here.
