From local electronics retailer to listing on Nasdaq Sweden

How Elon has put intelligence at the core of realizing its vision to be a leading player in home appliances, consumer electronics, telco and IT in the Nordics

Download the success story as pdf

Industry

Electronix

Listed on:

Nasdaq Sweden in June 2022

Facts & Figures

Employees

300

Merged with

Electra in May 2022

Headquarter

in Sweden, founded in Jan 2004

Product used

GfK Market Intelligence: Sales Tracking

The data, insight and advice we receive from our long-standing relationship with GfK is core to how our business operates, and to our ongoing success. The intelligence is reliable, and timely - and provides the granularity we need to make meaningful decisions. We put analysis of the trends and latest data at the very heart of our strategy, benchmarking our performance against the market and creating defensive and offensive tactics and action plans. We have a regular dialogue with the experts at GfK who understand our business and provide ideas and guidance that become actions.

Stefan Lebrot

CEO, Elon Group

Operating in the Nordic countries of Sweden, Norway, Denmark, Finland and Iceland, Elon is one of the Nordic region's leading retail chains for home electronics and white goods, with over 400 stores in Sweden alone. Following a merger with Electra in 2022, the group added more categories including consumer electronics, telecoms, and IT products. As well as selling direct to consumers, the B2B business sells to home builders and other industries.

The retail business is organized in a unique way, with many independent specialist stores as shareholders. They offer excellent local market expertise and customer service, and by joining Elon Group benefit from its buying power and wider industry knowledge. Compared to a franchise or wholly owned model, this approach means that the shareholders are highly engaged in the business and the sector. Elon Group reports to this audience in the same way it does to Nasdaq Sweden, institutional shareholders and its B2B audience.

Grabbing opportunities and defending market position

Elon provides its own sell-out data to GfK’s point of sale panel and in return receives market-level information. The player uses the intelligence to evaluate its own performance and position against the market as a whole and to manage and track product assortment and promotional campaigns. The team analyzes sell-out data from stores, sales by volume and value, and the evolution of market share. Trend data is reviewed by category, brand, and price which are contrasted to the market overall and by individual channel. From here, Elon creates a SWOT analysis and implements action plans by category. Their progress is reviewed and modified with every new dataset. Armed with this level of strategic and tactical information, the teams can respond fast to grasp emerging opportunities and defend their market position.

Disseminating performance data to a diverse audience

The data and insight from GfK form the basis of the Group’s KPIs and reporting to its diverse group of shareholders – be that its local retailers, B2B audience, or institutional shareholders via its listing on the Nasdaq Sweden. In addition, custom research projects provide additional support for specific projects on an ad hoc basis.

We are able to prepare detailed information for our retailer shareholders who are key to our continued growth and success. In these regular meetings, we show performance by price and category, actions and impact. Our shareholders are experts in their locality, and these sessions provide a chance to understand why sales vary across the market, as well as to review overall market performance. Having such good quality market information from GfK has also assisted with the reporting we deliver to the stock market, which is governed by strict regulations.

Stefan Lebrot

CEO, Elon Group

A long-term collaboration

Elon Group and GfK have built a strong relationship over many years. The partnership has become crucial for operating the business providing robust, reliable data – both current and trending. GfK’s team is very customer oriented, and their understanding of the way Elon Group operates means that advice and ideas have been turned into actions that have made a genuine difference to the business.