How Brits turning to ‘luxury that lasts’ has helped sale surge at The Cotswold Company

In just five years, The Cotswold Company has more than doubled its revenue, a milestone that CEO Ralph Tucker believes signals a shift in how British consumers are prioritising their spending.

Based in Norwich, the premium furniture brand has long been favoured by fans of quiet luxury, but has seen a surge in new customers in recent years.

In 2023, the retailer reported an impressive revenue boost to £86.2m, a sharp rise from the £42m it recorded in 2018.

Its most recent figures, for the six months ending August 25, 2024, show continued momentum, with revenue increasing by 15 per cent year on year to £40.1m.

This growth helped the company return to profitability for the first time in several years.

The Cotswold Company focused on physical stores

Tucker attributes the sales uptick to a 21 per cent growth in active customers, driven by significant investment in omni-channel marketing.

He said: “We’ve been leveraging technology to target ads directly to people near our showrooms. We often see customers visit in-store and then make their purchase online.”

Although 80 per cent of The Cotswold Company’s sales come from digital channels, Tucker emphasised the importance of physical stores.

The retailer recently opened its tenth showroom in Stamford, Lincolnshire, with plans to open up to two new stores each year moving forward.

“Our showrooms offer a personalised customer service experience, and we’ve invested heavily in training our team to provide a high-quality, hands-on approach,” said Tucker.

“Ensuring that customers’ homes are respected during delivery has been key, and our efforts have significantly reduced return rates.”

This has been particularly important for The Cotswold Company, given its position at the upper middle end of the market – another factor that has, according to Tucker, helped it to grow in recent years.

He said: “It’s interesting, we’ve seen that with people having less money to spend they’ve become more focused on buying quality pieces that will last.

“We have a 15 year warranty on all of our products, so I think people feel very secure in that.

“It all depends on how you define ‘value’, of course. Our furniture isn’t on the cheap end, but you’re buying something as an investment to be enjoyed for a generation. I think that’s really resonated with people.”