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MarketScreener Homepage  >  Equities  >  Euronext Amsterdam  >  ABN AMRO Group    ABN   NL0011540547

ABN AMRO GROUP (ABN)
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ABN AMRO : More than 56,000 customers from all over the world in a 10m-2 cheese shop

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10/06/2017 | 03:31pm CEST

Release date- 05102017 - For five days, Kaan's Kaashandel in Alkmaar was in upheaval. Jan Kaan and his sons were busier than ever, processing twice as many orders thanks to the livestream sale of their cheeses. The world's first Stream Store was followed in 140 countries, with most visitors outside the Netherlands coming from the US, the UK, Canada and Germany. A total of 56,901 cheese lovers visited the online cheese shop. The site was most popular in the US, attracting 11,640 unique visitors.

Hundreds of people in Sweden, Belgium, Australia, Norway and Spain visited the shop and ordered cheeses live. Worldwide, the highest level of streaming was reached in Amsterdam, Rotterdam, Utrecht, London, Alkmaar and New York. Visitors stayed in the shop relatively long, tuning in for over two minutes on average. At peak time, 500 visitors were watching the livestream at the same time, staying tuned in for an average of seven minutes each. And they weren't only watching: in the five days that Kaan's Stream Store was live, 513 orders were processed - most of which from the Netherlands, followed by the US. The largest distance in terms of shop to customer was covered by an order from New Zeeland.

Americans order full scale

'We've become famous in America, and we made it into the media in China. We never expected this to reach such an international scale. All that attention will certainly boost our business in the future,' says Jan Kaan. 'At first it felt a little odd to be working in the Stream Store, but then we got used to it. We processed a total of 500 additional orders. On Saturday there was even someone who bought a whole Gouda cheese. And the Americans? They make full-scale orders. For example, we shipped many four-kilo orders to the US, including all eight types of cheese we offer. We had almost 57,000 people visit our little shop - that's just incredible!'

Mission accomplished: online authenticity

Kaan and his team received scores of positive reactions to their presentation. 'We were able to deal with questions in a personal manner. The experiment was so successful that we are looking into how we could do this using a different format in the future. Meanwhile, customers can still place orders by email, and our web shop is scheduled to open in a few weeks,' Kaan adds enthusiastically. 'This is exactly what we wanted to achieve with the Stream Store,' explains Henk Hofstede, Sector Banker Retail at ABN AMRO. 'We wanted to promote the concept of the authentic and traditional specialty store of the future worldwide. A shop with a personal approach, good service and high quality - reaching customers in all corners of the globe. We never expected it to be this successful on a worldwide scale. It's great to see how a traditional cheese shop was able to attract potential customers in different countries. As far as we're concerned, the experiment was a huge success and a good example for retailers thinking about their online presence.'

(c) 2017 Electronic News Publishing -, source ENP Newswire

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Financials (€)
Sales 2018 8 896 M
EBIT 2018 3 491 M
Net income 2018 2 219 M
Debt 2018 2 007 M
Yield 2018 6,06%
P/E ratio 2018 9,59
P/E ratio 2019 9,24
EV / Sales 2018 1,42x
EV / Sales 2019 1,42x
Capitalization 10 606 M
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Mean consensus HOLD
Number of Analysts 23
Average target price 27,7 €
Spread / Average Target 23%
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Managers
NameTitle
Kees C. van Dijkhuizen Chief Executive Officer
Tom de Swaan Chairman-Supervisory Board
Clifford Abrahams Chief Financial Officer
Christian Bornfeld Chief Innovation & Technology Officer
Steven ten Have Vice Chairman-Supervisory Board
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