Online furniture retailer, Interior Secrets is on track to turn over $12 million and has new fulfilment and digital strategies in place to help propel the brand into the future.
Interior Secrets has been through a significant growth period since it first appeared on the e-commerce scene in 2009, with the company’s founder and CEO, Billy Huynh telling Power Retail the business has achieved 30 percent year-on-year growth. “We are excited with the expansion and believe it will put us on track to exceed $12 million in sales by FY19,” he says.
According to Huynh, Interior Secrets has been planning its internal expansion for two years and will be kick-starting the busy Christmas sales period in its new 8,000 sqm warehouse in Melbourne, which will double its storage and delivery capacity. “The combined floor space of 8,000 sqm will position Interior Secrets to have the largest e-commerce furniture warehouse facility in Melbourne,” he says. “The expansion plan is on track to accommodate the growing online demand from consumers across Australia.”
Interior Secrets plans to use its expansion to “leverage scale to obtain cost advantages, increase bargaining power, and exclusivity on new product ranges”.
“Key success factors for a growing an e-commerce brand are more than just attractive product presentation and warranties. We believe there is always a better and more efficient way to present, so you need to have a clear market position, an extensive distribution network, strong supplier relationships and the ability to manage inventory well. The new facility will be the backbone to our growth,” Huynh says.
The online retailer also has plans to overhaul its digital strategy in the New Year, with a new website set to launch in January 2019. “The website was actually ready two months ago but we wanted to ride the wave during the peak season before the major migration took place,” Huynh explains. “Currently sitting at first and second search positions on Google for any major category key term with ‘Melbourne’, the last thing we want is our conversions and rankings to be affected during Christmas. To accelerate our expansion, we are continuously looking at organic and inorganic growth opportunities.”
Interior Secrets is also experimenting with cross-channel experiential commerce, with the launch of an experience-based store in Southbank, opposite Crown Casino. “Customers still like to see and touch the product – we can’t ignore that,” Huynh says.
The company has reportedly experienced success with this bricks-and-mortar showroom experience and is planning to launch a second store in Sydney. To ensure the business doesn’t become under-resourced during this period of growth, Huynh also says that Interior Secrets will be ramping up its management team as it continues to expand the business’s product range with more sub-categories.
“The expansion plans have been in the works for two years. To finally see it come together sooner than expected will put Interior Secrets in a strong position to make great furniture design even more affordable for Australians.”