Case Studies
Mimitoys
Wednesday 30 June 2010
Introduction To The Business,
Mimitoys is an e-commerce and catalogue retailer selling into Ireland only. Mimitoys sells quality wooden toys to Irish parents who have the highest value spend per child on toys than any other European country. The company was established in June 2004 by husband and wife team Myriam and Myles Doyle.
The inspiration to establish the business came from two areas.
- The absence of readily available quality wooden toys on the Irish market.
- The absence of a dedicated Irish toy e-commerce site with a full range of toys.
The business was initially set up from the couple’s home with warehousing taking place within their home garage.
Business grew steadily, helped by media coverage and word of mouth referrals. In year 4 the range had expanded to the point where home warehouse facilities were simply too small. In mid 2008 Mimitoys moved to larger warehouse facilities in Trim Co Meath, placing a small shop at the front.
In April 2009 Mimitoys opened their Clane Co. Kildare shop and in March 2010 they opened an additional shop in Navan Co. Meath.
Employees,
Myles & Myriam are the 2 full time employees. The business also employs two part time staff.
Myriam is responsible for choosing the ranges and buying stock. Myles is responsible for website and retail sales with an additional administration role.
Additionally Mimitoys employs part time a copy writer and photographer/ catalogue designer.
Current Status Business Growth,
The business owners are satisfied, from the past years experience, that their range of toys adequately fills the requirements of most online shoppers. Feedback from focus groups has suggested that the mainstream Irish consumer wants a personal experience with their toy purchase. This has accelerated the Mimitoys retail strategy.
Current Status Technology
Mimitoys has a rich website with standard customer facilities such as toy search, catalogue request, free shipping over certain values, free toy over greater purchase values. Attached to their website, is admin access only to stock control, customer details, order details and product & website text details. Online payment is through Realex.
However the business owners feel their one area for development is in communicating fully with their existing customer base. They believe their customers would appreciate updates and information from Mimitoys relevant to toys that they have previously purchased.
As a result of this admitted under performance, Mimitoys are currently implementing a flexible customer relationship management system that will facilitate communications improvements.
Plans For The Future Including Expansion Into International Markets,
Mimitoys have been researching their entry into the UK market since 2008. However the prohibitive cost of delivering orders into UK households from an Irish base has resulted in Mimitoys declining a move into the UK.
In parallel Mimitoys wanted to manage their stock on a “Just in time” basis to reduce pressure on warehouse space and cash flow.
These two ambitions have resulted this January in the Mimitoys warehouse stock being transferred into a warehouse located in Belfast. This base gives Mimitoys the best of both countries. Local Irish and Local UK home-delivery rates, in addition to enjoying lower minimum order values from their UK suppliers.
The intended launch into the UK market will be under the website brand Mimistores.co.uk. It will hold the exact same range as Mimitoys.ie but priced in Sterling. Expected sales growth in the UK market is expected to be slow but grow strongly as
- word of mouth on the quality of their range spreads amongst UK parents.
- Search Engine Optimisation activities build the Mimistores.co.uk Google rank.
- Highly targeted Google adwords strategies are put in place.
- The ease of website use, clarity of toy images, customer focused toy descriptions and social media uses makes the UK parents’ experience of the Mimistores.co.uk website both pleasant and straightforward
The business owners are optimistic about the future of their business, stating:
“We have built up the company slowly and prudently. Expenses incurred are always reviewed to see if we can cut or eliminate them. Yes it is a small company perhaps still a micro company but we believe its continued growth is assured because our steely focus on supplying quality wooden toys still remains, although now it is offered to Irish parents who buy from shops and soon it will be offered to UK parents who buy online”
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