Products
NAY was one of the first companies in the newly opened up Czechoslovakia to start wholesaling and distributing electronics made by renowned international manufacturers (Sony, Panasonic, Grundig etc.), when, in 1992, the company started operating a small network of retail stores throughout Slovakia and Moravia.
After the break-up of Czechoslovakia, however, NAY concentrated its focus on the Slovak Republic.
In 1998 NAY came up with the concept for large-scale electronics stores and launched a pilot programme with the commercial name NAY Elektrodom. Today the company operates 24 modern superstores in 22 cities throughout Slovakia (three stores in Bratislava and stores in Banská Bystrice, Košice, Nitra, Poprad, Prešov, Trnava, Žilina, Malacky, Nové Zámky, Prievidza, Michalovce, Komárno, Levice, Lučenec, Trenčín, Zvolen, Martin, Skalica, Dunajská Streda, Liptovský Mikuláš and Považská Bystrica).
Besides offering a wide assortment of high quality products all under one roof, NAY Elektrodomes also provides a wide portfolio of customer services: guaranteed low prices, PC connectivity, PC clinics, the NAY Club loyalty programme, rental televisions and mobile phones, payment by instalments, sales over the Internet, the possibility of making immediate exchanges, environmentally-friendly disposal of old appliances, free Internet, and product delivery and assembly. By starting to build a network of retail stores under the NAY Elektrodom name, the companym expanded nationally and significantly boosted its position on the market and, in the space of just one year, the company increased its market share from 18% in 2004 to 20.1% by July 2005. Today the company has about 23% market share, and so confirms the leadership on the slovak market.
The company’s success is based on satisfied and faithful customers, as well as good management, a first-rate marketing strategy, employee professionalism and continual investment into the building and modernising of new stores. Because of its growth and excellent financial results, NAY was ranked 11th in the business weekly Trend’s Company of the Year 2004, rising to 10th in 2005, just behind giants such as U.S. Steel Košice, Orange Slovakia, T-Mobile Slovakia and Slovnaft. At the beginning of 2006 NAY won the prestigious “Golden Ducat Award 2006” in the trade category for the third time in its history. Each year the winneris selected by Moderní obchod (Czech) in cooperation with an independent jury for the greatest contribution to trade and business. After a long hiatus, the award went to a non-foodstuff retailer focused on the sale of electronics. NAY can also boast of having built the largest NAY Elektrodom in Slovakia. The store is located at Zlaté piesky in Bratislava and is now nearly double the size of the original showroom which measured 1,437.5 m². Today the superstore offers over 7,000 types of products in an overall area of 3,519 m² and is the largest consumer electronics store in Slovakia.Besides a wide selection of electronics from renowned manufacturers, customers can also find everything that they need for their kitchen, and by talking to advisors in the superstore’s inhouse kitchen studio customers are able to purchase complex kitchen solutions based on their own suggestions – from countertops and cupboards to kitchen appliances. The company’s success is also underscored by the fact that NAY has sparked the interest of a foreign investor.
Enterprise Investors bought into the company in mid-2005 and plans to invest approximately 18 million towards developing the NAY Elektrodom retail network.
History
Over the past seventeen years, NAY has opened 23 stores in 20 cities throughout Slovakia, and is still planning further growth and development. The company aims to set up NAY Elektrodomes throughout the country in centrally-located and mid-sized to small cities, all stores being in the region of 700 m² to 3,500 m².
The first consumer NAY electronics store was opened in 1992 on Dunajská street in Bratislava. Within just a few years, additional, smaller stores had been opened on Obchodná street and at the Soravia Shopping Palace, and a specialised Sony Centre had also been opened in the country’s capital. At the end of the 1990s the company launched a pilot programme and started to open large-scale stores under the name NAY Elektrodom. The first superstore was opened in November 1998 in the Bratislava neighbourhood of Zlaté piesky and today, having been reconstructed in 2005, it is the largest consumer electronics store in Slovakia. In the spring of 2000 a second NAY Elektrodom was opened in the Danubia Shopping Centre in Bratislava and ever since 2001 the opening of NAY Elektrodomes has accelerated dynamically with stores in Banská Bystrica, Trnava and Malacky all opening that same
year. Soon after, stores were opened in Košice and Nové Zámky, and in 2003 at Aupark Shopping Centre in Bratislava, as well as Žilina, Poprad and Prievidza. The year 2004 brought the opening of stores in Poprad and Michalovce, and at the end of 2005 the doors to the fourteenth store were opened in Nitra. In 2006 two more stores were opened in Komárno a Levice. In november 2006 was opened in Trenčín the second largest store with consumer elektronics in Slovakia. Moreover in December was opened the eighteenth store in Zvolen. The same time NAY store Nové Zámky was moved into new building with larger floor space. In february 2007 was opened nineteenth NAY store in Martin. Another two stores were opened in october in Dunajska Streda and Skalica with overall area of 1 600 m2. In the buildings are also another brand stores, with overall lease area of 3 000 m2 in Skalica and 1 500 m2 in Dunajská Streda. At the end of the year was opened the 22nd store in Slovakia in Lučenec. Company NAY is step by step changing its stores to larger formats, comparable to significant european players.
NAY Elektrodomes in Slovakia offer a wide assortment of white and brown goods as well as information technology.In the white goods category NAY offers a complete range from refrigerators, freezers, washing machines, clothes driers, combined washing achine-driers, dishwashers and stoves to ovens, rons, blenders, coffee makers, choppers, toasters, andwich makers, yoghurt makers, juicers, kitchen cales, hair driers, curling irons and shavers. n equally complete range is also available in he category of brown goods and IT, where NAY ofers classic CRT, LCD and pasma televisions, video projectors, home cinemas, DVD players, VCRs, notebooks, ready-made PCs, mp3 players, radios, car radios, mobile phones, faxes, copiers, printers,scanners, cameras, satellite systems, Playstation® systems and many other smaller electronic devices popular with the consumer.
Contrary to other electronics and IT stores, NAY Elektrodom also sets itself apart by selling its products over the Internet via its online store ”Nay Internetdom”.
NAY Internetdom offers the complete range of NAY products, including special discounts and new items, with the option to buy products via instalment plans. Besides this, it offers a number of payment methods and supports direct payments such as TatraPay, SporoPay, VÚB e-Payments, credit card payments and Orange telepay.
The website provides up-to-date information about the products (current prices, special sales, product availability in stores, technical descriptions including pictures) and the services that the company provides, as well as also storing information about the NAY shoppers’ club.
Amongst NAY’s customer services, the company has introduced a loyalty programme named “NAY Extra Club”. After customers purchase items worthover 300 € (9 037,80 Sk) from any of the NAY Elektrodom stores, they can become members of the NAY Extra Club and obtain a club card that allows them to take advantage of special discounts as well as a number of other benefits. Discounts are provided based on the number of points that have been accumulated from individual purchases (from 3 % to 8%).
Because customer satisfaction is the company’s main objective, NAY has set up a hotline that its customers can call in order to get information about the stores, warehouse stock, products and claims.
In just seventeen years of existence, NAY has built a well-known and stable brand name recognized as having the largest network of retail electronics stores in Slovakia.
Thanks to its experienced management and strong position on the Slovak market, in 2005 NAY attracted a U.S.-Polish investment fund managed by Enterprise Investors. Enterprise Investors is the largest development capital fund manager in Central and Eastern Europe, and, since 1990, it has managed funds worth over US$1.1 billion. Funds managed by Enterprise Investors have invested US$ 955 million into 100 companies operating in Poland, Slovakia, the Czech Republic, Romania and Bulgaria. Enterprise Investors’ investment into NAY has allowed the company to grow more rapidly and expand its network of NAY Elektrodomes not just in Slovakia, but also to other countries in Central Europe.NAY is undoubtedly the best known consumer electronics retailer in Slovakia, having first gained awareness amongst customers with its image-based commercials in the early 1990s.
From the outset, the brand has been supported by just about every available means of communication on offer on the market, including flyers, radio and television commercials, print advertisements, website banners, sponsorships and public relations. Today, NAY’s favoured means of communication with customers is mainly via product flyers and billboards. Originally flyers were being distributed just three to four times annually; now they are printed twice a month and are distributed to all households in and around cities where NAY Elektrodomes are located.Besides traditional forms of communication and classic appearances in the media (print, radio and Internet), NAY focuses on partnerships for sponsorships in the areas of culture, sports and education. In particular, it regularly supports a cultural endeavour entitled NAY Dance House, featuring singers and dancers. The NAY Elektrodom logo also regularly appears at ice-hockey rinks, horse races, competitions amongst university students and other locations.
From the outset the company has built the NAY brand name and its image on these basic values: Widest assortment – all 23 stores offer a wide selection of products from the categories of white goods, brown goods and information technology. Best prices – sales of renowned brand-name products as well as no-name products, at prices attractive to young people and families.High-quality services – customer care is the company’s main credo.
Trained personnel – personnel is regularly trained so that they will be able to advise customers courteously and professionally when selecting the right appliance.
The value system that the company has implemented is in constant development, and alongside this NAY is building a high-quality, highimage brand name.
The NAY brand brings to customers’ minds a store that offers the widest assortment for the best prices and a number of key customer advantages.
The picture of the young people who go shopping at NAY is the embodiment of the NAY brand.
THINGS YOU DIDN’T KNOW ABOUT:
• NAY was the first company in the former Czechoslovakia to sign an official contract with Sony.
• NAY has served over two thirds of the Slovak population.
• NAY was the first to open the largest NAY Elektrodom in Slovakia.
• NAY and NAY Elektrodom are registered trademarks in Slovakia, the Czech Republic, Poland and Hungary.
