How Currys became one of the UK’s most productive retailers

Below we take a closer look at the plans powering Currys’ march into the top five most productive retailers, as featured in Retail Week’s new report, which this year focuses on multichannel businesses. 

Currys in the spotlight 

• Ranked: 4th (2023: 16th) 
• Group sales: £9.5bn (2022/23) -7% 
• 2022/23 group staff cost-to-sales ratio: 9.7 

Operating in a challenging technology market, Currys has several levers it is pulling to drive productivity. 

From deploying warehouse automation and aligning itself with dedicated fulfilment provider GXO in 2022, to finding and doubling down on new revenue streams and upskilling workers across the organisation, the strategy focus is on improving efficiency. 

Attending Currys’ Capital Markets Day in September 2023, held at its Newark distribution centre, Retail Week heard from several of the senior team about measures to improve the working environment for store staff and those in the wider supply chain. 

Increased pay for workers 

Pay has increased by 14% over the last year, with the minimum store staff rate starting at £10.50 and increasing by 30p after six months. The average store colleague bonus is 89p per hour, but top earners can make up to £3 per hour in bonuses.

And there are plans to put more technology in the hands of store staff in the months ahead – which will help better connect frontline workers to head office and will also support them as the retailer looks to increase its growing services division encompassing care and repair add-ons for customers. 

Chief operations officer Lindsay Haselhurst said at the Capital Markets Day that it can take six months to get an in-store colleague to sufficient service capability and two years to become “high performance” but “digital tools can fast track that”.

Strengthening its supply chain 

Behind the scenes, 2024 marks the third year of Currys’ ‘brilliant basics’ three-year plan to overhaul its supply chain and service operations. 

Its partnership with GXO is continuing to unlock efficiencies, according to director of logistics and home delivery Simon Boss, also speaking at the Capital Markets Day. He said Currys “shared in the benefits” of working with a company that has expertise and experience in automated warehousing. 

Work has begun on an automated packing system for small box orders, which once installed will mean fewer staff are needed in distribution centres – an estimated 100 fewer people in one site around Black Friday, according to Boss. 

“In a tough labour market these are important metrics not just from a cost-saving point of view but from a resilience of service [perspective],” he said.