Best results ever. Again.
Just like a young athlete does not retire after having won the first championship, several record-breaking annual results have not inspired JYSK to sleep in. On the contrary, achieving the best year ever several years in a row requires on a strong strategic focus and an unbeatable growth mindset. Opening with the question "How do you improve on your best results ever?", a video released in March 2021 provides insight into some of the work behind the impressive results.
"Our founder, Lars Larsen, created the foundation for a strong and long-lasting business with a small store concept, a focus on the right products at the right prices and a certain willingness to take risks. Today, this still characterizes JYSK. To grow and develop the organization, we focus on creating great strategies so that JYSK remains attractive, sharp and dynamic for customers as well as employees," says President and CEO Jan Bøgh.
While continuous performance evaluation and optimization is a vital part of everyday life, JYSK embarks on the comprehensive process of evaluating and updating the strategy every three years. This involves deep involvement from the entire organisation as well as thorough analysis of current and potential customer needs showcasing both strengths and weaknesses of the business. The preparatory work for the major strategy updates takes place over the course of approximately 15 months. In the video from JYSK, some of the strategic initiatives from the last seven years are highlighted.
"We are a professional business with highly engaged employees in stores, distribution centers and head offices in each country. Neither them nor I ever rest on the laurels," adds Jan Bøgh. And as JYSK employees often quote Jan Bøgh: "Growth is never done."
If you are curious to get a sneak peek into the engine room at JYSK, you can watch the video here. https://vimeo.com/521897195
About teaching Austrians JYSK
In 2019, the preliminary steps were taken to convert Dänisches Bettenlager to JYSK in Austria. More than 160 touchpoints showing the Dänisches Bettenlager name and logo were identified. 87 stores needed everything from a new store front to new receipt paper. Even the assortment has changed. A project plan involving stakeholders in Marketing, E-business, Sales, Purchasing, Retail Development, Country Management and, of course, the Austrian stores, was put into play in order to reach the ambitious goal of teaching Austrians JYSK.
While JYSK may be well-known to customers in many European countries, this is not the case in Austria yet. Switching from a successful brand name with high brand awareness to one with practically zero brand awareness in Austria is not an easy task. However, it has been done with success before when Jysk Sengetøjslager and Norsk Sengetøyslager changed to JYSK in Denmark and Norway respectively. "JYSK stands for Scandinavian sleeping and living. Using a brand name that does not refer to products for sleeping specifically, such as 'Sengetøjslager' or 'Bettenlager' opens the potential of our brand. The name change is about adding on to a success story not only with the brand name but also with ongoing additions to the assortment.", says Michael Gade, Marketing Director at JYSK. Once the 87 stores carry the JYSK logo, the increased visibility of the JYSK logo will help lift brand awareness through existing traffic in stores and exposure of the new logo to both loyal and new customers.
On top of campaign papers as well as TV and digital campaigns, JYSK even went onto the streets of Vienna for some on-camera language lessons with potential customers to help the Austrians pronounce the Danish-sounding 'JYSK' correctly.
Dänisches Bettenlager officially changed name to JYSK in Austria 1 October 2020. Two months after the re-branding the name change, brand awareness had increased from 0 to 53%.
B2B – as seen on TV
With help from the Business to Business department, JYSK products are now entering show-business in Finland. In the comedy-drama show 'Ex-Onnelliset' ('Living with my Ex'), JYSK products help set the scene for the meeting between different family constellations and life situations in the show's season 3 and 4. Season 1 and 2 of the popular show reached almost one million viewers per week at the Finnish TV-channel MTV3. Season 3 and 4 aired in autumn 2020.
For the production company, Dionysos Films, one of the reasons for choosing JYSK B2B as their props supplier for the TV show, was the diversity in the assortment which complemented the different homes of the families on the show well. Rene Hartung, Head of Business to Business at JYSK says: "The almost 3,000 JYSK stores around the world function as showrooms for JYSK B2B. The stores are a great way to introduce potential business partners within a wide range of industries to the products that JYSK B2B have to offer. The case with props from JYSK in the Finnish TV show demonstrates that JYSK B2B offers much more than decorating office facilities or hotels.".The practicalities around props for 'Living with my Ex' were facilitated by the B2B department at JYSK Finland's head office.
Growing and expanding the B2B area is part of the JYSK strategy. B2B is already established in Denmark, Sweden, Norway, Polen, Croatia, Germany and, of course, Finland. In 2021, B2B opens in Romania, Greece, Czech Republic and the Netherlands.
Walking the talk at JYSK
Being one of JYSK's Employee Promises, 'When you grow, we grow' is a well-known statement among employees in JYSK. A satisfaction score of 82% for Learning and Development in the latest Employee Satisfaction Survey prove that JYSK is keeping that promise.
A Sleep Academy as well as optimised development programmes for Store Managers, District Managers and Retail Managers have already been launched. Furthermore, JYSK launches the JYSK Talent Academy targeted particularly at young talents in 2021. Along with two international awards rewarded for JYSK's M-learning platform MYLEARN in 2019 and 2020, the above satisfaction score shows that JYSK's dedicated effort to continuously improve internal training and development is paying off.
The Employee Satisfaction Survey was carried in out in January 2020 with an impressive participation rate of 98%. The total result of the survey was published in May 2020. It revealed an employee satisfaction score of 76%, which according to Global Employee and Leadership Index (GELx) positions JYSK in the top 10 of major international businesses.