Soak & Sleep is a prominent UK-based online retailer. For more than a decade, they have been consistently ranked as one of the top eCommerce stores in the UK. The company was founded on the idea that manufacturers could provide high-quality items for up to 70% less than similar brands by selling directly to the consumer. In fact, it was this B2C model that initially launched Soak & Sleep into success.
After years of using Magento 1 to build a customized store, CEO Charlie Hunt realized a change was needed. The company had a unique opportunity to cater towards a growing online B2B marketplace. To meet the expectations of both B2B and B2C consumers, Soak & Sleep would require substantial changes to its website and business management tools. That’s when they wanted a Magento 2 platform upgrade.
Soak & Sleep faced several challenges. The main limitation with their Magento 1 platform was its lack of built-in B2B functionalities or tools for retailers. The Soak & Sleep website required heavy customizations to cater to the needs of customers, and the numerous changes negatively impacted site speed and performance. Since slow loading times can be enough to dissuade a potential customer from staying on a website, it was critical to resolve this problem. The solution was a Magento 2 platform upgrade. An upgraded Soak & Sleep store must also be flexible and scalable so the site could continue to accommodate more traffic from both B2B and B2C buyers without affecting loading times. If these challenges could be mitigated, the store could begin selling to a global market. Previously, it catered specifically to local UK residents.
The company needed an upgraded eCommerce platform that could:
Soak & Sleep chose Wagento for Magento 2 platform upgrade. CEO Charlie Hunt was confident in Wagento’s ability to exceed expectations. This confidence was based on their history of success across a wide array of online stores. This confidence was critical as Soak & Sleep aimed to enhance both their B2B and B2C offerings.
Magento 2 KPIs
To gauge the effectiveness of the Magento 2 Commerce Cloud upgrade, Soak & Sleep and Wagento established several key performance indicators (KPIs) to monitor:
These KPIs were selected to assess impacts on both B2B and B2C segments. It ensured a comprehensive evaluation of the platform’s performance post-upgrade. The transition was completed in early November 2016. It allowed us to optimize their Black Friday operations and maintain enhanced service throughout the holiday season. Notably, Soak & Sleep recorded less than 10 minutes of downtime, a 20% increase in AOV, and significantly faster page loading times. The reliance on customizations was reduced by adopting a range of third-party integrations and extensions available through the Magento marketplace.
B2B Expansion
Along with this dramatic success, the merchant now had access to various unique B2B tools previously unavailable with Magento 1. The Magento 2 platform upgrade provided all the features needed for B2B expansion and success, including managing multiple B2C and B2B websites with different target markets, product types, and locations. Through Wagento’s Magento 2 platform upgrade, Soak & Sleep was able to quickly transition to a new B2B marketplace with tools like:
Through these enhancements, Wagento facilitated a swift transition for Soak & Sleep into a competitive B2B marketplace, enabling them to efficiently manage multiple websites for diverse markets and product categories. This strategic upgrade not only improved operational efficiencies but also significantly boosted their market presence in both consumer bases.
The Magento 2 platform upgrade led to remarkable improvements:
The successful Magento 2 platform upgrade not only enhanced Soak & Sleep’s operational efficiency but also positioned the company to capitalize on the growing demand for online B2B services. Although 56% of B2B companies have eCommerce sites, only 11% of these online sellers had their own marketplace. There is still a great opportunity for online merchants to start catering to this growing demand for online B2B services. If you choose to take the plunge and expand to the B2B marketplace, your company can experience the same positive results and benefits as Soak & Sleep, including:
Experience the growth and efficiency that Magento 2 can bring to your online business. Contact Wagento today to explore the best strategies tailored to your needs and market demands.
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