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The state of the economy at the street level

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Covid-19 ...

"“The retail world that would have existed in the year 2030 has been pulled into 2020. Brick and mortar retailers that were thinking of moving online have done so at an incredible clip over the last 8-10 weeks”
Harley Finkelstein, COO, Shopify Inc [multinational e-commerce software company
 
Westfield Parramatta was packed this afternoon, 3pm on a friday, took me 15 minutes to find a car space, 90% of shops open.
 
Not completed yet but verbal agreement for sale of a warehouse north of Brisbane.anecdotal but had been on the market for nearly 2 years so was very surprised when the (low but not bargain ) offer came.
One more step toward independence.
And a positive sign for the economy
 
Target shuts up to 75 stores and converts others to Kmart, putting up to 1,300 jobs at risk

There is very little in K-Mart worth buying so I don't know how they stay in business either.
 
SirRumpole said:
Target shuts up to 75 stores and converts others to Kmart, putting up to 1,300 jobs at risk

There is very little in K-Mart worth buying so I don't know how they stay in business either.
Click to expand...
IMO, they are just compressing their range of products, as they integrate it with their catch platform, in a year or two the remaining stores will be culled again as they transition to the online platform.
Then the remaining KMart stores will be spun off like Coles.
Just my opinion.
 
yep, ... but while the integration with, the migration to, digital is happening, it's not as if the retail sector is a static unresponsive monolith. Sure data and consumer trends can be observed, trends plotted, needs anticipated, but there is an element of consumer uptake that likes the 'shopping experience'. Just look at the post-restriction rush to locations over the last week (aided and abetted by 70% type discounts !!)

The location of and negotiations with shopping centres is another element that will impact the bottom lines and thus decision to stay or not. Some of it will come down to A or B grade or sub prime locations. Not everyone is a winner; this has merely shaken the tree .... stuff is falling out!
 
I agree 100%, I just think bricks and mortar retail, is not where WES thinks its future lies.
Bunnings works well, because people are looking for widgets that fit , discretionary retail lends itself to online IMO.
 
Kmart has filled the niche for nice trendy home decoration:
You do a reno, put your house on sale kmart is the go to, always updated cheap to give a chic look for the photos
They are making a killing this way, very representative of whay shops in china cities offer, as in Japan, add a bit of class or elegance design to every day items.
Can be kitch, trashy even but always cheap
Kmart as is, is here to stay imho unless it gets eaten by miju and similar shops when they arrive here
 
Just saw TV ads for bunnings bundle offers.the virus has pushed forward different models which are here to stay and i think positive
This peculiar crisis will have some great positive
 
went out (a big deal, in itself) to a friends for lunch and boozy afternoon. Taxi home at 6pm; the driver revealed we were his first fare since coming on shift at 3pm. I gave a tip.
 
I believe Kmart is safe. Very few overseas retailers will risk Covid-21 or Covid-22 occurring.

WES has done its sums. Kmart stays. Target goes. Pretty soon Myer will be gone. It will be just Kmart and possibly a rejuvenated BigW once Woolies gets taken over by a Solly Lew or someone else.

gg
 
Big W offers more food stuff than kmart, i mean chocolate gifts etc but in my opinion, doomed
I see David Jones or just conglomerate of top brands under an informal umbrella in each capital cities, no Myer or Target/ Big W,
Kmart as the reference fighting some new Miju or Miniso (much smaller footage) shops for cute bric a brac
Aldi, woolies and Coles for the daily goods
That is basically it
 
DJs has converted a BP servo selling crisps and chocolate milk to a high end foodhall experience and ready to eat meals. This is on high traffic easy ingress egress inner city Victoria Rd just off Anzac bridge. Don't think it's gaining traction .
 
I think it will take 3-5 years to play out, but I think frog is right, DJ's, KMart and a few specialty shops. If Wes keep KMart it will be as a click and collect option for Catch IMO.
The World is changing, or in Australia's case catching up, big shopping centers have been dying in the U.S for some time apparently.
 
Dona Ferentes said:
DJs has converted a BP servo selling crisps and chocolate milk to a high end foodhall experience and ready to eat meals. This is on high traffic easy ingress egress inner city Victoria Rd just off Anzac bridge. Don't think it's gaining traction .
Click to expand...
Pray tell what city is this in.

Darwin or Wagga?

gg
 
Dona Ferentes said:
DJs has converted a BP servo selling crisps and chocolate milk to a high end foodhall experience and ready to eat meals.
Click to expand...
Sounds like the UK model where servos, particularly those on the motorways but also others, have the shop part run by or at least carrying the brand name of one of the major supermarket chains.

In that context M&S is comparable to what I assume DJ's would be doing and M&S doesn't do "cheap" whereas some other UK chains simply don't do "premium". The range of products on offer is influenced by the chain far more than it is in Australia where just about all supermarkets sell comparable products.

As such, what's on offer in the servo's shop varies hugely from cheap to expensive. Depends what brand the supermarket part carries which is separate to the fuel brand.
 
SirRumpole said:
Target shuts up to 75 stores and converts others to Kmart, putting up to 1,300 jobs at risk

There is very little in K-Mart worth buying so I don't know how they stay in business either.
Click to expand...

You may not have been into a Kmart for a while, they have morphed into a kind of Ikea without the furniture, Aldi for electricals and clothes etc.
 
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