Finland-based online retailer Verkkokauppa.com has announced that it has updated its 2024-2028 strategy to expedite profitable growth.

During this period, the company has set a target to achieve annual revenue growth (CAGR) of more than 5% and an annual operating profit margin of more than 5%.

Verkkokauppa.com also plans to cut fixed costs to less than 10% of revenue by the end of 2028.

The retailer, which offers a wide range of home technology products, will expand its assortment, focusing on products suitable for fast deliveries and its platform.

It also plans to make its own brands a substantial part of its offering.

In addition, Verkkokauppa.com aims to introduce new operating models, automation and data to facilitate cost efficiency and scalability.

The retailer also aims to strengthen its market position by making purchasing more convenient and affordable.

The company, which already serves 600,000 households in Finland, is looking to improve product flows and automate its intralogistics and distribution network for faster deliveries.

During the next strategy period, Verkkokauppa.com will continue its effort to expand its presence beyond Finland by testing new markets through its own platform and selected partners.

It will also improve goods flows and streamline operations using artificial intelligence (AI) and data.

Verkkokauppa.com CEO Panu Porkka said: "Verkkokauppa.com continues to be a forerunner in the market. We will efficiently take advantage of market recovery and the new, sustainable business models will support the strengthening of our market position.

“We will exceed our customers' expectations by offering the fastest deliveries on the market and a superior customer experience – not forgetting affordable pricing and a winning assortment."