AGM Statement 7th May 2008
At its Annual General meeting today, David Williams, Chairman, gave the following update on Ideal's trading performance for the first 18 weeks of 2008
2007 Annual Report and Accounts 7th Apr 2008
Ideal Shopping Direct, a leading operator of TV and internet shopping channels, presents its annual report for 2007.
Preliminary Results 4th Mar 2008
Ideal Shopping Direct, a leading operator of TV and internet shopping channels, is today providing its preliminary results for the 52 weeks ended 30 December 2007.
Our strategy is to exploit our unique position as a digital retailer to grow sales strongly, whilst maintaining operational efficiency and further developing our direct sourcing model.
Ideal World
Our product offer
Our offer is continually refreshed with new products – over 5,000 new products in 2007, including some of our own brands like “ Simply Yoghurt” , “ Skin Naturally” and “Flex & Soft”.
Promotions
Our use of multibuy and free or discounted postage offers drives sales without damaging margins.
Targeted sales
Data generated by our new IT systems has helped us to better target our sales.
Create and Craft
Create and Craft Club
In 2007 we grew club membership from 10,000 to 23,000, which has been a key source of growth in craft sales.
Create and Craft brand
Our own branded products are sold by us and wholesaled to independent retailers, both generating sales and increasing the reach of the Create and Craft TV and internet brand – a truly multi-channel approach.
Superstore
Direct sourcing
Our direct sourcing model utilising Superstore’s Far East sourcing and quality control capability gives us better control of the supply chain at enhanced margins.
Wholesale supply
Supply of craft products to Asda and Wilkinson sourced from the Far East increases sales and supports our purchasing volumes.
Infrastructure
Customer service
We have rationalised our call centres and will repatriate our customer services section to the UK in 2008 as well as enhance our automated call lines.
IT systems
Our new IT platform has greater performance capability and can support future growth in the business.
Warehouse
In 2008 we will decide a long term solution to our future warehousing needs.
New opportunities
BT Vision
In the Autumn of 2008 we expect to launch Ideal World with a video on demand offer on BT Vision’s IPTV platform.
Online
We are relaunching our websites in 2008 and anticipate that more than a quarter of our sales will be placed online by the end of 2008.
