LUX365 sets sights on transforming UK's £2bn lighting market
A new professional lighting retailer launches today, which is set to capitalise on the explosive growth of LEDs and transform the UK’s £2bn(1) lighting market.
LUX365 is a digital-first retailer specialising in LED products, a market predicted to grow 20 per cent year-on-year through to 2025(2).
It has spent 12 months creating a mobile-optimised website that lets electrical installers and contractors quickly choose from more than 800 high quality LED products, from over 15 brands, with same-day despatch to the whole of the UK.
The LUX365 website is backed by a sophisticated warehouse and fulfilment operation, based in Bolton and staffed by more than 20 expert lighting professionals with a proven track record.
LUX365 offers low price guarantees on popular products and quarterly cash rebates to ensure customers get the cheapest products possible. It currently price-checks more than 800 products every week and offers a price match guarantee.
Billy Knight, CEO of LUX365, said, “Whilst lighting technology has rocketed ahead, the way lighting professionals are serviced has stood still. Today’s installers need high quality and a low price. They want to order from wherever they are, safe in the knowledge it will arrive on site swiftly. The online options available to the trade today are woefully inadequate and we intend to change that.”
LUX365 has been created by group of lighting industry veterans and is backed by global lighting giant, OSRAM. It is aimed at electrical installers servicing the fast growing market for LEDs in commercial offices, warehouses, public buildings and residential properties.
A growing market
The long working life and reliability of LEDs have made them the first choice for three quarters of the UK’s millions of electrical installers(3). They are far more energy efficient – critical at a time when the UK lighting industry’s products consume around 18 percent of all electricity generated in the UK(4). LEDs are also a key component of many connected homes, where consumers rely on them for security or for improving ambient mood.
As a result, the global LED lamp market is projected to more than double, reaching $54bn by 2022(5).
LUX365 intends to capitalise on this, with plans to open further websites, warehouses and fulfilment centres across Europe in the next two years.
Knight continues, “Across Europe, we’re seeing a reaction against the cheap supply of unbranded luminaires from Asian LED manufacturers. The trade wants quality products that won’t fail and require a costly call out. That’s why we only stock the highest quality products. Our ambition is to create the most customer-focused and cost-effective professional lighting retailer in the world.”
1 - The latest figures from AMA Research value the UK lighting market at £2bn. The market is dominated by sales of LED lights, which have increased 38% year on year.
2 - UK Lighting Sector Strategy, Dept. for Business Innovation and Skills.
3 - Steinbeis School of Management and Innovation, 2016 – ‘Three out of four installers already choose LEDs over other technologies today.’
4 - UK Lighting Sector Strategy, Dept. for Business Innovation and Skills. Source. According to the UN, a transition to energy efficient lighting would reduce the global electricity demand for lighting by 30-40% in 2030.
5 - ZION market research, January 2017.