At Premier Farnell we are always looking forward and finding new and innovative ways to grow our business and ensure we continue to maintain our momentum in existing markets.
Electronics is increasingly pervasive around the world in all areas of our lives. We have a critical role to play in the distribution of new technology, the design of new electronic products and the maintenance and repair of existing products.
In simple terms our strategy is supported by four key pillars:
- Focus on the electronic design engineering segment
- Growth in the profitable maintenance, repair and operations segment
- Serving customers through their preferred and our most efficient channel: the web
- Building our business internationally, especially in fast growing markets
Our profitable growth strategy has remained consistent since the outset of our transformational journey with a proven ability to deliver results through the cycles. Ours is a strategy for all market conditions, which we continue to evolve as we build our proposition and capability.
Our focus remains on the electronic design engineering or EDE sector whilst also growing our market share in the more profitable segments within MRO.
As a multi-channel distributor we offer our customers choice about how they wish to do business with us, although the web is increasingly becoming our customers channel of choice. We’re targeting for 70% of our business to ultimately come from ecommerce channels – a milestone already passed in Europe. Globally we have more than 32.5m visits to our transactional websites a quarter - a number that continues to grow.
We are internationalising our model to take advantage of the long term potential able in the growing emerging markets, particularly China, India and Eastern Europe where we are building infrastructure and capability to enable us to capitalise on these opportunities in the future. Increasingly design is moving to these markets with nearly 50% of the world’s newly qualified engineers each year graduating from universities in India and China going into indigenous businesses in their countries, as the region becomes the design powerhouse for technology and industrial markets.