Currys CEO Alex Baldock has declared that the electricals retailer is unconcerned about cannibalisation as it expands into new areas such as refurbished products, repairs and partnerships with tech businesses such as Microsoft.
Speaking at Shoptalk Europe 2024, Baldock revealed that staff at the electricals giant had shared concerns with him about its expanding online sales cannibalising store sales as well as refurbished products and repairs impacted sales of new products.
However, Baldock declared: “We’d much rather cannibalise ourselves than have somebody else do it to us”.
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His view is that if customers want a specific product or experience, Currys will fulfil that demand, even if it impacts existing lines of business as their priority is meeting customer needs.
The chief executive added that its repair business feeds their refurbished product business, tapping into the circular economy trend which he called “a big source of competitive advantage”.
The retailer was recently named Microsoft’s first official UK retail repair partner, receiving the title of authorised service provider, meaning any customers with Microsoft Surface laptops can now get them repaired at Currys.
Baldock called the partnership with Microsoft, alongside similar tie-ups with Apple and Samsung, “another source of differentiation” for the business as it continues to expand into new areas.
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