The company has outlined its strategy in direct response to customer feedback, and as part of its long-term turnaround initiative.
As announced to the stock market on 9th September 2016, restructuring of the business is on track, providing a platform to ensure that Hornby’s brands can continue to flourish in partnership with its customer base. The turnaround now includes plans to address concerns voiced by customers during a series of face to face meetings held across the UK by CEO Steve Cooke.
Having taken on-board customer feedback obtained during these meetings, the company will address the way it works with and supports its independent retailer base. Short-term changes for developing partnerships with independents will include implementing three priority initiatives: new trading terms, reduction in sale of discounted product by Hornby, and structured, focused ranging to support customer sales growth.
Pre-Christmas, dedicated Hornby field sales executives will proactively work in partnership with independents to develop an ongoing conversation with every customer as to how the company can help them grow their business through better advice, siting, merchandising and brand and product selection. The company is committed to delivering a change in overall support for all customers, with further enhancements during 2017 and 2018.
Steve Cooke commented: “We’ve heard, very clearly, some key concerns from our customers. We’ve carefully considered the changes that we’re now implementing to address these concerns. As a company, we hope that Hornby’s independent retailers will agree that the actions we are taking are clear, decisive, and are designed to benefit their business.”