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MX2 expand into Europe

MX2 expand into Europe - 

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Industry News

MX2.com one of the UK's largest suppliers of digital and camera consumables celebrated its 5th birthday by expanding into Europe during  August and September. A huge milestone considering the company started with line advertisements for camera batteries in a photographic magazine in August 1996, and now boasts a range of over 4000 products. The new operations will be based in Hamburg, Germany and Lyon in France targeting MX2's typical computer and camera enthusiasts via Internet and mail order.

Ceo and co-founder John McQuaigue says 'MX2's rapid success has exceeded my wildest expectations, we had no idea when the company started five years ago that there was such a large enthusiast market out there. We have established ourselves as the UK's leading Internet Computer & Camera Food supplier with a strong presence now in the DVD Film and Music CD markets which is contributing to our 80% growth this year in the UK. Our European expansion I'm quite sure will double this growth rate next year.'

Sven Lange Managing Director of MX2 GmbH echoes his point 'The German computer and camera markets are around 50% larger than the UK's and offer MX2's finely honed formula considerable future growth opportunities.'

Based in Guernsey in the Channel Islands MX2 quickly became synonymnous in the industry with a price aggressive stance on branded products, by offering up to 70% off many retail prices for the same item.The launch of the MX2 website in 1998 and its continued growth (over 70% of customers orders are taken on the internet) has proved that dot.com companies can be very successful if they find a niche strategy. 

'The simplicity of the website has been a key factor to MX2's success, we have had many customers comment on how easy it is to navigate the website due to the clear layout.' says McQuaigue 'Recommendation by a friend or colleague remains the single largest source of new custom for the company which advertises in national enthusiast magazines such as What Digital Camera, Digital Photo and Practical Photography.'  

MX2 GmbH and MX2 SAR can be accessed through the main website www.mx2.com 

Company History
Established as a Partnership in August 1996, MX2 began in the photographic industry selling Photo Lithium and Alkaline batteries at around 2.25 (when shop prices were typically 9-12.00) by Mail Order through national photographic magazines (eg. Practical Photography, Amateur Photography etc.). MX2 became the largest seller of 'Camera Food' (batteries, Kodak & Fuji films) to the enthusiast market in the UK within 3 years.

MX2 established the Computer division in Sept 1997 and is now the largest seller of Epson, Hewlett Packard, Canon, & Lexmark inks and photo papers to the UK Digital enthusiast market. Advertising in some 40+ national enthusiast magazines (Computer Shopper, PC Direct, Digital Photo FX, PC Answers etc.) these two products sectors remain the core of the business.

The MX2 website was established in March 1998, breaking even inside 3 weeks and within 3 months taking over 20 percent of total customer orders. The success of the website is down to MX2's enthusiast (technically advanced) customer base who are  early adopters of new technologies. Over 70 percent of total customer orders are now taken over the MX2.com  website with Telesales, Mail and Fax orders taking up the rest.

In August 2000 MX2 expanded into the new and rapidly expanding DVD Film market and the mature Music CD market which MX2's CEO John McQuaigue regarded as 'strangely un-competitive for decades.'  

MX2 are infamous in a number of industries for price aggression and ignoring manufacturers 'recommendation.' The company believes it's the ability to mix discounting with industry leading design is what marks them out among price discounters.

MX2 also say the multi million pound websites of their major competitors are very often confusing, hard to navigate and poorly branded. In contrast MX2's believe their site is an object lesson in simplicity, (despite carrying over 4000 product lines) demonstrating  functional thought that results in user-friendly clarity for browsers and effective company branding

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