340 jobs to go.
Printable View
340 jobs to go.
Themarket.com reported a loss of $16m in the half year. Lost $25m in fy22, $21m in fy21, $15m in fy20 and $6m in fy19.
Paying a lot to try be Amazon NZ. When do you give up? If they turned it off then they wouldn’t need to cut their cloth.
Also have you seen the amount of staff on above 200k, it’s about 160 people. I need to get in to retail!
I've never really been able to work out The Market. I'm not a genius, but I'd like to think I'm not an idiot either. All it seems like to me is a poorly advertised, not-so-good Amazon with the same stuff that you find in The Warehouse (and other group stores including the dumping ground that is 1 Day) but sold through a different channel and brand.
Am I missing something? Certainly if the Market disappeared tomorrow I wouldn't miss it. On the other hand, I buy heaps of stuff from Amazon.com because even with shipping and tax it's cheaper than buying here.
In terms of Noel Leeming, anecdotally the last few times I've gone in to the stores in my area they have all been quieter than I have seen in the past. Lots of staff twiddling their thumbs and not doing much.
The Warehouse/red shed is the only group brand I really like, primarily because the big one near my house will often have some decent deals on large packs of baby wipes, dog biscuits (I blend the cheap sawdust kibble with the wallet-wounding, Ebos shareholder-enriching Blackhawk stuff from Animates - the hound loves it) and massive bags of house brand coffee beans for cheap ... if you drink it straight out of the espresso machine while it's boiling hot you can't notice the average taste and it still perks you up. The fresh fruit and veg area in the store looked very sad though.
yeah, and about ~55 over 300K as well. I wonder what they all do?
Attachment 14520
Make powerpoint presentations and use words like omni-channel
ChatGPT can do both now virtually free.
I think you do.
We do live further away from the next red shed ... and the market allows us to get not just everything you could buy in the Warehouse, but as well plenty of other stuff for no added cost (with membership and a minimum order of $50). Most orders (from NZ/ Australia) arrive within one week (sometimes next day), sure - orders from India / China / UK take longer.
Hardly buy anything physical from amazon (we do buy e-books from them) - but anything they need to put into a parcel takes ages to arrive and the cost for P&P are substantial.
It is possible (and we use them) to get through the market plenty of useful and reasonably priced goods from the e.g. the UK, China, India, without the need to worry about dealing with somebody in a foreign jurisdiction and without the need to worry over taxes / import and goods arriving (though admittedly - if its from overseas it sometimes takes as well its time) - the market is the only point of contact and actually they track the goods coming from overseas for you.
I found it good value - and good service ... but admittedly (like just now) when the Warehouse splits an order of $56 into two separate parcels and delivers them for free (as part of the membership), then I am sometimes wondering, how they can make money this way.
In summary, I do see customer groups for whom the market can be quite attractive ... but I think as well that they would need to review their processes to make sure the market makes them money instead of costing them money.