“Brilliant Basics, our right sizing and margin improvement programme, delivered what it needed to in FY24, ensuring foundations for future growth. I am very excited by our plans to unlock further profitable growth, and we are in a strong position to continue increasing our share of the used car market.”
Mark Carpenter, CEO
Upscaling omnichannel capability
- Upgrades to website Product Detail Pages (PDPs) and new vehicle imagery – increased views and sessions, and lower bounce rates
- ‘Saved Search Favourites’ and ‘Recommendations’ functionality introduced and email stock alerts in place for stock that becomes available
- Record levels of organic traffic, with improvements to site speed, up 43.5% from previous year
- New merchandising capability enables prominent visibility for overage stock and price reduction banners introduced
- Redesigned store landing pages allows customers to see locations close to them and showcase their current stock
- Sale orders from digital leads increased by 10.0% from previous year despite lower overall volumes sold
Customer acquisition and retention
- 21st store opened in December 2024 (Norwich)
- Significant investment to relaunch and extend the first Motorpoint store in Derby
- Improving customer experience with creation of single customer view and CRM platform
- Customer emails sent up to four times a week, with very low unsubscribe rates
- Better use of data:
- Drill down on what customers desire, highlighting the need to increase the affordability of our stock
- Data led pricing strategy
- Focus on where each vehicle is in life cycle
- New warranty product, now offered for a three year period
- Improvement to online portal experience – reduce waiting time in store
Wholesale and supply expansion
- Less reliance on stock attracting purchase fees
- Fees per unit dropped from £144 in 2023 to £114 in 2024
- New A4C customer dashboards – unique personalised ‘central hubs’
- New automated funding provider options – A4C customers can activate their account in two clicks and proceed to bid and buy
- Automated A4C customer payments now trigger collection alert and secure code – customers can win auction, pay and collect almost immediately
- Reinvigorated Sell Your Car processes in the final quarter leading to a strong uplift
Operational efficiency through technology and innovation
- Continued automation yields further efficiency gains
- New internal transport partner, improving service on sold cars
- New open banking solution allows retail customers to pay by bank transfer, reducing card payment fees
- Digital verification of vehicle mileage to ensure accuracy
- Improved aftersales capability with planned introduction of MOT bays in selected locations
- Key partner API enhancements eliminate double key entry and rework
- Upgraded FAQs page improves customer experience and productivity
Related links
Results and Strategy update for further information
