Strategy for a profitable and sustainable business – celebrating achievements of 2022, with more to come in 2023
MEKO’s business strategy is firmly grounded in its vision to enable mobility – pure and simple. It translates into a commitment to be the best, most comprehensive and sustainable partner for everyone who drives, repairs, and maintains cars. “Sharing best practices is essential to further refining our ways,” said Pehr Oscarson, CEO and President of MEKO.
In its pursuit of a sustainable and profitable future, MEKO leverages its robust market standing and the scale of its operations. Anchored in four strategic domains, the approach seamlessly integrates sustainability across all facets of operations, with its dedicated workforce and unique business concepts being the cornerstone of its success.
While our core strategy remains steadfast, we’ve always been keen to share best practices to further refine our ways of working. This approach is reflected in the many achievements seen in 2022, and I'm now eager to see more progress and efficiency initiatives take place in our key focus areas come 2023, said Pehr Oscarson.
As the industry undergoes rapid transformations, MEKO remains adaptable, anticipating needs and ensuring its relevance remains unshaken.
In line with its mission, MEKO has four strategic focus areas to improve the efficiency of its business and increase profitability, through both organic and inorganic growth.
1. Better operations
MEKO strives for a better and sustainable core business through greater availability and cost-efficiency, committed employees and flexible and scalable solutions. Its ambitions also encompass its suppliers, to ensure high profitability and maintain its leading position.
- Initiated work on fully automated central warehouses in Denmark and Norway, with the aim of streamlining, improving availability and strengthening competitiveness.
- Its leading position provides a platform to grow with its own brand products: a broader product range, better purchasing prices, and full control over margins.
- Follow-up activities with the aim of further improving leadership, the work environment, and the employee commitment.
- Private label strategy with growth potential, by developing and broadening its range of brand products where there’s potential to build stronger loyalty among customers.
- Working with the Group’s IT strategy by moving to shared systems. The work begins with a shared business system and a digital platform for online bookings.
2. Better workshops
MEKO is developing its workshop concepts to attract new customer groups, increase workshop loyalty with existing customers and create sustainable, profitable workshops that exceed the car owner’s expectations.
- Strengthened the workshop concepts within the Group further through continued training in the E+ electric car standard in all of our markets.
- Conducted our extensive annual customer survey among workshops with follow-up activities to further increase customer satisfaction.
- Evaluating new business models for concept-affiliated workshops.
- Offering a more sustainable workshop alternative together with extensive support to limit the workshop’s environmental impact.
3. Better mobility
MEKO creates new digital customer solutions that strengthen its offering across the value chain and enable sustainable mobility for all. The company is keen to maintain a good relationship with car owners and provide a unique offering that meets the customers’ needs.
- Developing the Group’s proprietary booking system.
- The Fleet portal is a fully developed platform for B2B business that is directly linked to the online booking flow for a fully digital customer journey.
- The Danish fleet business has developed the B2B offering by establishing two customer centres – to increase customer satisfaction and competitiveness.
- Mobile workshop is a concept established in Denmark and from 2022 also in Sweden and Norway. The aim of the service is to be able to offer our customers a higher level of service in a manner that also benefits the workshop.
- Implementation throughout the Group of the proprietary digital booking system.
- Begin the development of a more sustainable customer journey.
4. Sustainable growth
MEKO envisions sustainable and stable growth through acquisitions, innovation, development, and new collaborations. By broadening its offering, it captures new segments, improves the relationship with customers, and increases new long-term sustainable revenue.
- Acquisition of Koivunen that contributed to MEKO’s expansion around the Baltic Sea.
- Collaboration agreement with Mobivia Fleet Solution that enables the Group to offer services to customers who are active in several markets in Europe.
- Expand the offer in existing operations.
- Continued geographic expansion – and monitoring and evaluating new actors.
- Establishing contracts and cooperations with new electric car manufacturers.