Würth Group, a global provider of fastening and assembly technology, can look back on a reasonable first half of the year — despite the COVID-19 pandemic. The company’s overall sales only dropped slightly, by 3.1%. However, its e-business share has increased by 20%.
Würth Group’s e-business has increased by 20% during the COVID-19 pandemic.
“Considering the current backdrop of a global pandemic, we are more than satisfied with this relatively stable development,” said a relieved Robert Friedmann, chairman of the Central Managing Board of the Würth Group.
This is particularly true, given the companies presence in several countries that have been heavily affected by the pandemic, such as Italy, France, Spain, and the U.S.
Despite the overall economic standstill in many countries (e.g. in France, which imposed a full lockdown in April and many restrictions in May), companies were still able to celebrate successes through their e-business channels.
The strategic structural shift toward digital channels, such as online shops — including the Würth App — has resulted in ongoing business. (For example, France posted an e-business growth of 27.8% in the first half of the year). Contactless procurement solutions proved to be an ideal solution.
The Group’s performance and efficiency is still driven by three factors:
1. A multi-channel strategy
2. Diversification of risk through its international footprint
3. Diverse business models.
Additionally, in the first half of 2020, Würth’s global sales in its construction division grew by 9.2% over the same period last year, driven by the continuing strong demand in the construction sector. The company’s electrical wholesale business unit also reported growth. It grew by 13.7%.
Filed Under: Fastening + joining, Fastener industry news, Fighting COVID-19
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