Coolblue to open first store in Wallonia as sales regain momentum

After a decrease in 2022, Coolblue was again able to grow “on all fronts”. The Dutch electronics e-tailer reported sales growth in Belgium, Germany and the Netherlands in 2023, and announced investments in all three countries to continue that growth.

Progress everywhere

Sales grew 2.5 % to 2.409 billion euros despite a declining market: CEO Pieter Zwart said he was again very pleased with his company’s performance. Other key figures were also on the up: market share grew in all three countries, EBITDA doubled to 88 million euros and customer satisfaction (NPS) rose further to 71. Notable increases came from energy contracts (+ 11 %), private label sales (+ 34 %) and especially white goods subscriptions (+ 67 %).

In contrast, the number of staff went down by almost 400 units to 5735 (- 7 %) as Coolblue “managed to book large efficiency gains”, and no shops were added in net terms in the Netherlands and Germany. Belgium broke that trend by opening three shops.

Looking for more growth

2024 should be a year of (even) more growth, Zwart promises, with investments in all four key areas. Tomorrow, the retailer will open a second German depot in Frankfurt, which should be able to serve up to five million new customers. Coolblue will also add four former branches of bankrupt chain BCC to its own network (Amsterdam, Breda, Hengelo and Leeuwarden). For the first time, Coolblue is also aiming at Wallonia, with a shop in Liège. Another three shops should be added, including at least one German one, to bring the total to eight openings.

Zwart also expects a lot from expanding the energy branch, including thanks to a washing machine that starts running automatically when the electricity price is low, Dutch newspaper FD reports. Exactly how this is to work, for example via buying or renting the appliance, is still being investigated.