•   
  •   

Australia Bunnings Warehouse drops its 'lowest prices' promise as retail apocalypse hits hard and online shopping puts pressure on traders - and experts warn 'it's just the beginning'

06:10  14 february  2020
06:10  14 february  2020 Source:   dailymail.co.uk

Retail is evolving faster than ever before to keep up with the changing desires of consumers in the digital age

  Retail is evolving faster than ever before to keep up with the changing desires of consumers in the digital age The retail industry is evolving at a rapid pace to keep up with advancing technology and the ever-changing whims of consumers. For retailers, the transformation is not just about staying relevant, but also about survival in a period when traditional retail is grasping for survival. Business insider spent the last several weeks talking to experts and industry leaders to learn more about how companies are revolutionising retail in the modern era. Visit Business Insider's homepage for more stories.

Bunnings Warehouse drops its ' lowest prices ' promise as retail apocalypse hits hard and online shopping puts pressure on traders - and experts warn ' it ' s just the beginning '. Australia's go to hardware store Bunnings Warehouse has removed their iconic slogan promising the ' lowest prices '.

Take it home for this price . Caption Settings Dialog. Beginning of dialog window. Escape will cancel and close the window. Get your summer essentials for a warehouse price . Inspiring ideas to transform your home. Garden.

a sign on the side of a road: Bunnings Warehouse has removed their signature slogan 'Lowest prices are just the beginning'© Provided by Daily Mail Bunnings Warehouse has removed their signature slogan 'Lowest prices are just the beginning' Australia's go-to hardware store Bunnings Warehouse has removed its iconic slogan promising the 'lowest prices'.

The brand has slowly stripped warehouses, TV and radio advertisements and staff uniforms of the slogan: 'Lowest prices are just the beginning' that has been around for 25 years.

The hardware giant claims the slogan's removal won't affect prices for customers but retail experts are suggesting online shopping has put pressure on the store.

The removal of the slogan comes as Australia's retail sector is plunged into a crisis.

This startup wants to help retailers like Toys R Us, Macy's, and Lowe's revamp their store experience — and it's raised $88.5 million to do it

  This startup wants to help retailers like Toys R Us, Macy's, and Lowe's revamp their store experience — and it's raised $88.5 million to do it B8ta, a tech-powered startup founded in 2015, uses software and analytics to create experiential store concepts. The company has dozens of its own stores but also partners with various retailers to revamp their in-store experiences. B8ta has previously partnered with Toys R Us, Macy's, and Lowe's. "If a brand is really bought into that idea and notion and wanting to make significant change, then usually we think that there's a path forward," B8ta president Phillip Raub told Business Insider. Visit Business Insider's homepage for more stories.Stores might be closing in droves, but brick-and-mortar retail isn't dead.

The Warehouse | Low Prices on Clothing, Toys, …

Bunnings Warehouse . Notify Message. Bunnings Warehouse .

Bunnings Managing Director Mike Schneider said the removal of the slogan was a way to 'refresh' and 'upgrade' the store's brand.

Retail giant launches online shopping for members

  Retail giant launches online shopping for members A decade after making its mark in Australia, Costco is launching online. Undeterred by the tough local retail market and most likely buoyed by the sudden exit of Kaufland, Costco members will be able to order from the comfort of their couch from Wednesday. require(["inlineoutstreamAd", "c.

Beautiful bathrooms at warehouse prices . Keep cool for a warehouse price . Inspiring ideas to transform your home. Ask your D.I.Y. questions at the Workshop online community. Workshop is an online D.I.Y. community supported by Bunnings .

The rise of online shopping isn't the only thing killing the suburban Australian shopping mall. How greedy foreign businesses now own HALF of Australia' s malls and are driving out local traders as online shopping steals customers in a retail apocalypse - and your suburban centre could be next.

'After 25 years, customers understand our lowest prices policy and price guarantee, so we thought it was timely to update and refresh our branding,' Mr Schneider said in a statement to Daily Mail Australia.

' a display in a store: The store's CEO said the removal of the slogan wouldn't mean any difference to prices for shoppers© Provided by Daily Mail The store's CEO said the removal of the slogan wouldn't mean any difference to prices for shoppers We started this in 2018 and will slowly be making the changes to our buildings as we open new stores and refresh our store network.'

He stressed that there would be no changes to the low prices guarantee.

'We are incredibly and genuinely committed to our policy of lowest prices. We invest over $5 million a year in a very robust system to constantly check competitor's prices online and in-store, nationally and regionally,' Mr Schneider said.

'In stores, we have pricing integrity team members who check the local market.'

Mr Schneider also said the slogan's removal was not a result of competing with prices at other department stores and added it was not gone forever.

Australia's designer to the stars Alex Perry announces shock closure as the retail apocalypse claims another scalp

  Australia's designer to the stars Alex Perry announces shock closure as the retail apocalypse claims another scalp Alex Perry has announced his flagship shop on the Strand Arcade, in Sydney's CBD, will shut its doors in March. require(["inlineoutstreamAd", "c.

Experts have warned Bardot and Harris Scarfe are just the start of the downfall of big-name Aussie Australia is headed for a retail apocalypse at the hands of ruthless invaders like Amazon and Aldi and there 'Stagnating wage growth and weak house prices have limited consumer willingness to spend

Online shopping , by contrast, offered the promise of near-limitless choice at relatively snappy speeds. Consumers had grown to expect all the convenience, selection, and low prices of online shopping . This lets them merge your online and in-store data.

But Steve Collinge, a retail consultant, said the pressures of online shopping was going to give Bunnings a 'headache'.

'Bunnings knows that consumers will continue to buy online in increasing numbers and this will provide them with a real headache,' he told news.com.au.

'Bunnings is a great brand but it's hamstrung by its monster stores that have very high fixed costs. That means nimbler competitors with a much lower costs base are able to come in with cheaper prices.'

a sign in a parking lot: Bunnings has been slowly removing the slogan since last month on its staff aprons, warehouses and commercials© Provided by Daily Mail Bunnings has been slowly removing the slogan since last month on its staff aprons, warehouses and commercials Professor Gary Mortimer from the University of Queensland Business School said he didn't think the slogan's disappearance would have any effect.

'I genuinely don't think consumers will notice the signs missing,' Professor Mortimer told Daily Mail Australia.

Goodman upgrades earnings outlook as online retail spurs warehouse demand

  Goodman upgrades earnings outlook as online retail spurs warehouse demand Goodman Group, the biggest Amazon landlord in Australia, has hiked its full-year earnings forecast on the back of unrelenting growth in demand for warehouse space.Goodman, the biggest Amazon landlord in Australia, said as more people shop online, the demand for warehouse storage and distribution centres is marching ahead at a rapid pace.

Indeed, it was predictable, and it ’ s been predicted here for well over a year, but particularly of late as we have closed in on its arrival. The retail apocalypse has moved from the realm of a growing threat and economic predictions to a full-on event that is happening all around us.

Online Shopping for Men. When it comes to looking presentable and appealing The Warehouse promises and likewise delivers to you the trendiest fashion for men including Pakistani mens clothes. Our online store also has its own range of jackets. What’ s a men party with no good jacket?

'I think that's ultimately because that slogan is embedded into consumer's psyches. When we think of Bunnings we think of the slogan 'Lowest prices are just the beginning'.

Professor Mortimer said he didn't believe shoppers would see a price increase as a result.

Weekend Deals: JB Hi-Fi, Bunnings, Big W, EB Games And More!

  Weekend Deals: JB Hi-Fi, Bunnings, Big W, EB Games And More! The weekend is the perfect time to snap up a bargain or three at retail - it's when most people go shopping, which means competition for our wallets is fiercer than usual. This weekend is no exception, with a stack of great bargains waiting for you online and in store. Here are ten deals you should definitely consider splurging on this weekend. There's something for everyone from this weekend's biggest sales - we've got cheap-as-chips fridges, 35% off Sony headphones, an EB Games sale that's actually worthwhile and slashed adult gear from Lovehoney. Here are the links!1.

Featured Price Drops . Latest Price Drops . Can't Find Your Product Here? Add it to Price Watch & never miss the next deal.

Our policy is lowest prices are just the beginning , and we're committed to it . It applies where our competitor’ s price (including GST and delivery charges), is lower than our price . Bunnings MarketLink: Products sold directly by Bunnings ’ Trusted Sellers through our MarketLink platform are

'I think it's simply the case so they're not pigeonholed into the low prices appeal and that they can promote other important attributes such as quality of service and range.'

The removal of Bunnings' slogan comes during Australia's retail apocalypse.

Retailers across Australia have been forced to enter into voluntary administration as shoppers turn their attention to online stores.

Dropping like FLIES: Some of Australia's recent retail casualties

2016: Dick Smith, Masters hardware, Payless Shoes

2017: Topshop Australia

2018: Avon, Espirit, Toys 'R' Us, Max Brenner, Roger David

2019: Ed Harry, Diana Ferrari, Napoleon Perdis, Ziera, Bardot, Harris Scarfe

2020: Jeans West, Collete Hayman, EB Games, Co-op bookstore

On top of this, retailers are blaming shopping mall landlords for jacking up the rent.

Within the last year, several big brands collapsed including fashion retailers Bardot and Jeans West and gaming store EB Games.

Retail Doctor Group, a business consultancy, said Australia could be left with fewer traditional shops unless changes were made to combat the rise of online commerce giants like Amazon.

'We haven't even reached base camp with what's about to change,' the group's chief executive Brian Walker previously told Daily Mail Australia.

Costco’s online store should have JB Hi-Fi and Harvey Norman worried

  Costco’s online store should have JB Hi-Fi and Harvey Norman worried Costco has expanded its Australian footprint to the web, last week entering the online marketplace and creating ripples in the retail landscape. Although its bricks-and-mortar store attracts a certain kind of shopper, the membership-based outlet’s digital store will rock the sales of key market players, namely JB Hi-Fi and Harvey Norman, retail experts have told The New Daily.It’s an important move for the US-based giant and came in the same week it opened its 12th store in Perth.

Home | Store Location | Contact Us | Careers. Arne' s Annex Texas Size Pet Supplies & More (713)869-8321/Email.

The MLB playoff proposal has its pluses and minuses. The Nats are bringing back their navy blue alternates. Yes, they’ll eventually be for sale. UN warns that runaway inequality is destabilizing the world’ s democracies. Trump and Democratic candidates struggle to rally behind budget vision as

'Twenty-five years ago, there was a little online bookshop opening in Seattle, that business now turns over $250 billion a year.'

Mr Walker said shopping mall owners were increasing rents, which put the squeeze, particularly on fashion retailers that were struggling with slower sales revenue.

Shop owners in downturn Sydney last year paid an average of $12,825 a month in rent, data from real estate group Colliers showed.

As of September last year, Australia's retail sector grew at the slowest pace since the 1991 recession.

a sign above a store: Harris Scarfe, (pictured), founded in 1849, took consumers by surprise when it entered administration in December and is now about to close at least 21 stores© Provided by Daily Mail Harris Scarfe, (pictured), founded in 1849, took consumers by surprise when it entered administration in December and is now about to close at least 21 stores

The news has since worsened with Australian Bureau of Statistics figures released last week showing retail trade grew by just 0.3 percent in 2019 -  the slowest annual growth rate on record.

Business advisory firm BDO's national leader for retail, Mark Schiavello, said retailers needed to adapt to survive.

'Today's shopper doesn't go to a store to transact, that can be done anywhere, anytime,' he told Daily Mail Australia.

Competition watchdog sounds warning over Bunnings merger with Adelaide Tools

  Competition watchdog sounds warning over Bunnings merger with Adelaide Tools The ACCC is concerned Bunnings’s proposed acquisition of Adelaide Tools could lead to a lack of competition in the hardware market.The statement said that while Bunnings is a major player nationwide, Adelaide Tools is one of only two tool specialists with a physical presence in Adelaide, and competes on price, innovation, range, and quality of service.

Bunnings Warehouse in Rydalmere. Find store information, opening times, services and more. Services Available At Rydalmere: Hire Shop . Special Orders. Warehouse Savings. Widest Range. Expert Advice. Free Tinting. Colour Matching.

'They go to stores to experience, feel and connect with a brand.'

HOW CAN SHOPPING CENTRES SURVIVE?

Brian Walker, the chief executive of the Retail Doctor Group, told Daily Mail Australia shopping malls will have to quickly adapt to the modern customer's demands.

This includes offering community activities, expertise, and a series of extra offerings - making going to a shopping centre an 'experience'.

'I think the signs are already there,' he said. 'That the great retailers won't think about retail so much, they'll think about brand.

'Shopping centres are trying to adapt into this model by offering great shopping and dwelling experiences.

'They will think increasingly about their brand and how customers will be attracted there.

'The A-Grade centres, the Chadstones of this world, they will flourish. They'll be fine, and we see that globally - the Harrods and so forth, they'll be fine.

'And we'll see a return to the community hubs, and those will have much more interactions with their communities - evening classes, education, much more community focus.

'There'll be less focus on the product sales, because that will be going on online. There'll be much more focus on expertise, knowledge, uniqueness and experience.'

Competition watchdog sounds warning over Bunnings merger with Adelaide Tools .
The ACCC is concerned Bunnings’s proposed acquisition of Adelaide Tools could lead to a lack of competition in the hardware market.The statement said that while Bunnings is a major player nationwide, Adelaide Tools is one of only two tool specialists with a physical presence in Adelaide, and competes on price, innovation, range, and quality of service.

—   Share news in the SOC. Networks
usr: 2
This is interesting!