The multi-channel strategy is a success for the Würth Group
January 28, 2021
According to its preliminary annual financial statements, the Würth Group reported a sales volume of 14.41 billion euros in 2020 – slightly higher than 2019, which was 14.27 billion euros.
The Würth Group maintained its performance at a stable level thanks to its multi-channel strategy, allowing it to spread the risks thanks to its international positioning and its diversification in different business segments. The development of sales in 2020 reflects the different effects of the pandemic on the different sectors and markets: while the construction division (+12.3%) as well as the German electricity wholesale unit (+ 10.8%) performed very well with double digit range sales growth. However, sales of units that directly supply the automotive and mechanical engineering industries declined.
Robert Friedmann, Chairman of the Central Management Board of the Würth Group, said: “The trades, which we supply with fastening and assembly material in our core business, are of systemic importance, which has had a positive impact about our business. With our multi-channel, we provide our customers with the sourcing options they need for material supply in pandemic conditions. With the constant expansion of our digital offering, we also have the right strategy for us and our customers.
Würth’s e-business sales showed above-average growth of 5.8%, reaching 2.8 billion euros in 2020. This increased the share of this touchpoint in the Group’s total sales by one percentage point to 19%. Due to contact restrictions and lockdowns, business has increasingly shifted to digital sales channels due to the Covid-19 crisis.
Würth commented: Whether it is a webshop, the Würth app or e-procurement solutions, thanks to the constant pursuit of our digitization strategy and our financial stability, we remain a reliable partner and supplier for our customers even during the pandemic. E-commerce as part of the multi-channel strategy has once again gained importance. »