Christmas is almost here, and Norwegian consumers are expected to spend NOK 124 billion this year, down 2.4 percent from 2021, according to NHO.
In these times, Norwegians face very expensive electricity bills, Higher inflation and interest rates, and the organization maintains that consumers have reduced purchasing power as a result.
One entrepreneur who isn’t particularly noticing the tough economic times on employee turnover is the head of Villoid Janet Deehr Kvisvik.
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The online store has doubled its turnover every year since it started in 2018, and it’s on track this year, too.
– It was absolutely amazing. The numbers speak for themselves. We’ve had over 90 percent growth this year, and over 100 percent growth in «Black week»Kvisvik tells Nettavisen the day before this year «Black Friday».
Online shopping has left behind two great years in 2020 and 2021. In August, the NHO announced that online shopping is on the way back, and compared to the second semester in 2021, shopping saw by 11.3 percent.
“We think it’s gratifying that we were able to deliver such strong results despite the fact that the market across the board is struggling,” says Kvisvik.
Now Kvisvik and the rest of the industry are entering the period the founder refers to as the most important trading phase of the year.
– It is a proper pressure test.
– You’re growing faster this year during Black Week despite tough economic times for Norwegians. What do you think that?
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– We’re saving, but maybe we’ll buy what we need now, when we know we can get a good deal, says Kvisvik.
The goods that are being sold now were bought in February – before all the crises hit the whole world.
We might not have dared to take such large positions in commodities if we had known what the world looked like now, but we are glad we did.
The founder was previously a guest on the Stavrum & Eikeland podcast. In the studio, she talks about one of the biggest setbacks she’s faced in her entrepreneurial adventures. look here:
– A superpower in itself to mark hairy targets
Kvisvik believes that the growth shows that the niche the store has found and the technology investments made are paying off.
– We continue to grow despite the fact that we are witnessing the collapse of the world and the growth has stopped. We take large stakes from foreign players. Few people know that half of online shopping in Norway is occupied by the foreign online giant.
– We have nearly 90,000 active new clients this year. There is an increase in the active customer base by 100 percent. It’s exponential growth. It shows that we meet women of all ages.
– When you started the company, did you imagine that you would double your turnover every year?
– That was a goal and I said that when we started, but no one can predict the future. Neither I nor co-founder Jarl Snertingdalen knew about a pandemic or a war, and neither of us had ever run an online store before.
— but setting ambitious goals is a superpower in itself. I’m pretty sure we wouldn’t have grown so fast if we hadn’t dared, she adds.
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Comes with tips for budding entrepreneurs
Last week, the company won the award A rising star 2022” at the Klarna Growth Awards.
– We won the award because we have achieved growth that you cannot see anywhere else in the market, and because we have attracted Norwegian women. 80 percent of the purchasing power in trade comes from women.
Bianca Ingrosso and Caia Cosmetics won the same award in Sweden. It’s a company we really liked, she adds.
Do you have any tips for others who want to start something, but might find it a little intimidating in these times?
– I believe that when the world seems uncertain, this is the best time to start. Then it can only go up. An optimistic businessman might think so. Take, for example, online merchandise trade, which only accounts for 17 percent of all trade in Norway. This is a huge digital opportunity of the future that requires many entrepreneurs and more investment.
– If we don’t take any action, foreign players will come who already have a good control over the Norwegian players.
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