DIY retailer Kingfisher targets data profit opportunity

LONDON, March 21 (Reuters) - European home improvement group Kingfisher (KGF.L) is seeking to quickly monetise the data gleaned from the rapid expansion of its e-commerce operations, its boss said on Tuesday.

E-commerce sales at the group, which owns B&Q and Screwfix in Britain and Castorama and Brico Depot in France and other markets, have grown 146% versus 2019 before the COVID-19 pandemic.

In Kingfisher's 2022-23 year they represented 16.3% of total group sales, double the level of 2019.

CEO Thierry Garnier told reporters the group's target is for e-commerce to contribute 25% of sales.

"Across all our e-commerce touch points, we now receive over one billion customer visits annually. As a result we also see many more opportunities in data," he told reporters.

"Harnessing data will help us build loyalty and more personalised experiences for our customers but it also offers a new profit opportunity by improving our pricing and promotions or by selling advertising to brands on our e-commerce website and apps."

Garnier was speaking after Kingfisher reported 2022-23 results.

Reporting by James Davey, Editing by Paul Sandle

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