We are going to deal with omnichannel, but the one that we like, of specific cases. Would you dare to buy a washing machine online? And a dishwasher? Transport companies are appearing that are in charge of carrying this type of products and installing them and today we are going to meet a company that does it.
We are going to talk to Álvaro López, director of digital marketing & ecommerce at . In their case, they are betting on combining online sales with a growing network of physical proximity stores that provide full service coverage for the customer.
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Interview Álvaro López (My Electro)
9:00 For those who don’t know it, what is Mi Electro and how was the project born?
We started in 2017, I started in 2018. For me it is like a son that I see growing up, I got very involved in this business. It is a family business that was born as Pascual Martí and comes from a physical store in Valencia, it grew so much that it began to sell to other clients.
We have a B2B part, where we sell to any client and to the Mi Electro network of associates, which is the flagship of B2C customer: 400 stores in an associate model and an omnichannel website that provides service to all customers. A project that encompasses the company in the future and with more potential.
10:20 What was the turnover for 2020?
We closed at 15 million, in 2018 it was 1 million. So we noticed a lot of growth. These figures correspond only to online sales. Physical stores have a volume of 100 million, among the 400 points.
Our expectation for 2021 is to triple, although it is complicated, we hope to be above 20 million.
12:30 When they make an online order, does it leave the nearest physical store?
Yes, when the project was created there was fear in the online vs physical part, the neighborhood store and ecommerce. We integrated it in such a way that for them a web sale was like a sale in a physical store.
The closest store to the customer is assigned and for that sale you get the margin of the product, plus services. We work for stores promoting local commerce and we brought new clients and a younger target closer, because many could not compete online,
Also we work with logistics partners, for the localities where we are not yet or are in the process of entering our expansion project.
23:40 How do you work with recruitment?
It is a very competitive sector, the ecommerce that bills the most are in our category in Spain, we use all the available tools, Google Shopping works very well for us, we invest in Google, Facebook Ads, .
But what we’re trying to enhance more especially this 2021 is the generation of content. We have created our own content such as videos with tricks and recommendations. On the other hand, we also create media content and collaborate with others such as specialized blogs. We like that part of creating educational content that adds value to the user and guides them to sales.
The most important thing at the beginning is to communicate and give value.
29:00 Do you use ?
Yes, we work hard on YouTube videos too, but it is much more difficult to position yourself organically. We launched TikTok at the same time and we have more than 24 thousand followers, because it is still an easier tool for organic growth.
We were very surprised, we released a tips video and suddenly it went viral. And there I saw it clearly, it is a market that is not mature and we can enter, it is the social network where we are most active and we see other potential networks like Twitch that we want to get into.
We have two girls who come out, who are in the center, they are our image since we bet on video material. We carry out a complex production where we invest with a stage and staging where we record all the videos with products. We do a brainstorming as a team, the approved ones go to the script and then we carry them out. It is a sacrificial job. We do everything internally.
34:00 How many are you in the marketing team?
There is a team of , qthere are 2 people, 2 designers for the on and offline part, 1 person in charge of video, 1 person for and SEM, another for product sheets and a product manager which is responsible for deciding the product listing, which products are uploaded and their filters.
We were focused on SEO, we worked with an SEM agency but in the end we trained our team.
38:20 Are you in Marketplaces?
No, we are not supporters of marketplaces, We bet all the investment in our brand. In the end, on the one hand it can increase sales in the initial phase, but for us it is competition. We do not want to give up sales or customers, when you are in a marketplace you are giving your data and you do not contribute anything in the value chain, our essence is to provide that service, not just be in a catalog.
53:45 What is your average basket?
Our focus is electrical appliances, high-end televisions are what we sell the most. Last year the best-selling product was a , therefore, our average ticket is high, we are very close to €500.
The conversion ratio is in good data, above 0.60. In our sector there is a lot of comparison, so it is very complicated. The average basket is a very important piece of information because it gives you more profitability than any other product at the return level. We prefer a customer who makes a high basket purchase, we are not going to sell products at low prices. We seek a balance between store and ecommerce.
57:30 What are your challenges in 2022?
We want to establish ourselves in 2-3 years in 1000 stores, next year we hope to be in 500 stores, the goal is to expand. Another objective is to improve our omnichannel approach, integrating more areas. In addition to getting stronger in big technologies, being a reliable business to buy computers. We want to sell all kinds of electronic products.
Finally, we want to arrive within 24 hours at your address, we are about to achieve it.
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