British chain eStore raises £2.5m from City

Digital high street electrical retailer eStore is one of Britain’s most unusual brands. It has reinvented how it sells electricals in the way that traditional retailers would never attempt: by using an internet marketplace….

British chain eStore raises £2.5m from City

Digital high street electrical retailer eStore is one of Britain’s most unusual brands. It has reinvented how it sells electricals in the way that traditional retailers would never attempt: by using an internet marketplace.

EStore’s real-time price comparison on over 80,000 products has helped the company almost double its annual revenues to £100 million in three years.

Previously, eStore relied on a high street network of retailers, stock and warehouses for all of its products. It recently used this infrastructure to sell a £300,000 Huawei P20 Pro, enabling it to charge £190 – 50% cheaper than many of its rivals.

“Smartphones are the modern equivalent of electrical goods,” says Nitzan Raj, eStore’s CEO. “If you want to upgrade your phone, you are going to buy more electrical goods – we’re not going to buy you one TV,” says Raj.

He believes that eStore, founded in 2010, is poised to do the same for technology and other exciting products.

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