Builders FirstSource Inc. is a relative newcomer to digital commerce. To this point, its ecommerce sales are minimal. But the corporate is setting lofty goals.
Currently, the manufacturer and supplier of constructing products, prefabricated components and services has aggressive plans to generate $1 billion in digital sales in as little as two years.
Builders FirstSource’s ecommerce targets
“Since launch in late February, we now have seen orders on the digital platform go from zero to over $60 million, and in Q1, we had incremental sales of over $10 million,” CEO Dave Rush told analysts on the primary quarter earnings call, based on a transcript from SeekingAlpha.com. “We remain confident in our ability to fulfill our targets of $200 million of incremental digital revenue by the top of this yr and $1 billion by 2026, as we grow wallet share and win latest customers.”
For the quarter that ended March 31, total revenue for Builders was flat at $3.9 billion, while net income was $258.78 million compared with $333.78 million in the primary quarter of 2023.
Builders FirstSource’s myBLDR.com platform
Much of the corporate’s focus in the primary quarter was launching its latest ecommerce platform, myBLDR.com. “At a high level, our digital tools do three things: one, solve customer pain points; two, make it even easier to partner with us and our suppliers; and three, help us gain incremental business from latest and existing customers,” Rush told analysts. “It’s a win-win, and we’re enthusiastic about how every little thing goes thus far after the launch.”
The brand new platform launched in February and enables users to:
- Plan projects including intake and mark-up.
- Make structural adjustments and finish selections online.
- Review frames and walk with suppliers and builders.
- Request an estimate across all product categories.
- Review quotes, purchase material and track orders.
- Set a schedule and align material receipt and labor.
- View Builders FirstSource invoices and track full project costs.
“Because the only provider of an end-to-end digital platform in our space, we consider BFS digital tools shall be transformative for the industry and a considerable driver of organic growth,” Rush told analysts. “Our easy-to-use portal myBLDR.com seamlessly delivers our full digital capabilities to our customers. It’s designed to create efficiencies for our team members and improve service for our customers by offering increased transparency and engagement in the house constructing process.”
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