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Kmart and Target join forces to create mega discount stores

<p dir="ltr">Two of Australia’s favourite retail giants are about to get better in a huge merger creating a $10 billion discount giant.</p> <p dir="ltr">Wesfarmers is set to fold Target into Kmart with hopes that it will improve sales, provide better value for customers, and allow both stores to share backend technology.</p> <p dir="ltr">Ian Bailey the Managing Director of Kmart Group has said that there will be “no impact” to stores, and that the move was an "internal reorganisation".</p> <p dir="ltr">"With customers now demanding value more than ever, this new operating model will unlock a new level of scale and productivity across both brands, so we can deliver even greater value to our customers in the future," he said in a statement.</p> <p dir="ltr">"For store networks and 50,000 store team members – it's business as usual – as we continue to focus on providing the best value products to the thousands of customers in Australia and New Zealand who choose to shop at Kmart or Target every day."</p> <p dir="ltr">The move comes as the cost of living crisis is forcing more and more Aussies to be mindful of their spending habits.</p> <p dir="ltr">In a statement to the <em>The Australian Financial Review</em>, Bailey said that there would likely be “a handful of redundancies" but more jobs overall by next year.</p> <p dir="ltr">He added that one of the benefits of tighter integration and better technology is the ease in which the prices of products can be reduced.</p> <p dir="ltr">He said that the price drop on 1000 Kmart products this month was assisted by merchandise planning tools and a self-navigating inventory scanning robot.</p> <p dir="ltr">"Kmart and Target are both strong businesses. I don't see us doing this from a position of weakness. It's quite the opposite,” he told the publication.</p> <p dir="ltr">“I'd say we're strong, but I think there's an opportunity to really capitalise on this time and find ways to continue to deliver better value for customers."</p> <p dir="ltr">"What we found was that running two businesses it was very, very difficult to get the tech into Target, and to get those benefits. This is really why we decided to push the two businesses into one."</p> <p dir="ltr"><em>Images: Getty</em></p>

Money & Banking

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Exclusive senior discount makes mealtimes even easier

<p dir="ltr">When it comes to mealtimes, it's easy to fall into the routine of always having the same recipes on rotation. </p> <p dir="ltr">Relying on the same things for dinner can become boring and repetitive very quickly, and sometimes it's difficult to know where to start to expand your cooking repertoire.</p> <p dir="ltr">On top of this, getting to the grocery shops is getting harder for many Aussies, with the danger of Covid still rife. </p> <p dir="ltr">Many Aussie seniors are turning to tech to make mealtimes easier, with 70% of Australians leaning on apps for a simpler kitchen experience. </p> <p dir="ltr">According to a new study, 58% of Aussies are turning to the internet for new recipes and nearly a third (27%) are getting their cooking inspiration from online videos over traditional cookbooks.</p> <p dir="ltr">On top of this, 60% of older Australians are wanting to become more adventurous in the kitchen, and want to spice up their meal routines. </p> <p dir="ltr">Enter: HelloFresh. </p> <p dir="ltr">HelloFresh is a subscription meal service that delivers fresh ingredients to create healthy, delicious dinners right to your door. </p> <p dir="ltr">HelloFresh customers can choose between a range of meal plans to include up to five recipes a week for up to four people. </p> <p dir="ltr">Users can choose their weekly meals online, with a huge range of options available to include vegetarian, family-friendly recipes, calorie smart meals and quick &amp; easy options. </p> <p dir="ltr">Meals get safely delivered right to your door with ease, with each meal’s ingredients packaged individually, and perfectly pre-portioned to exactly what you need to reduce food waste. </p> <p dir="ltr">HelloFresh orders also come with a dedicated recipe card, showing how to create your delicious meals in an easy to follow guide. </p> <p dir="ltr">When HelloFresh started offering <a href="https://www.hellofresh.com.au/meal-kits/senior-discounts" target="_blank" rel="noopener">exclusive senior discounts</a> with guaranteed 10% off each box – saving Aussie seniors up to $600 off their yearly grocery bill – we leapt at the chance to try out the full service for a week. </p> <p dir="ltr">Plus, even better, if you’re a new customer, you’ll also receive 40% off your first box and 30% off your second. </p> <p dir="ltr">After trialling HelloFresh for one week, I can confidently say it is the quickest answer to mealtimes I have ever experienced.</p> <p dir="ltr">I received my HelloFresh box in the mail and everything was packaged perfectly: individual meal kits (that were colour coordinated as well) so I knew which ingredients went with each dish, easy to follow recipe cards, pre-portioned ingredients and refrigerated bags to keep everything fresh in transit.</p> <p><img src="https://oversixtydev.blob.core.windows.net/media/2022/03/P1011783.jpg" alt="" width="1278" height="720" /></p> <p><img src="https://oversixtydev.blob.core.windows.net/media/2022/03/P1011805.jpg" alt="" width="1278" height="720" /></p> <p dir="ltr">I selected five meals for two people, and was given a selection of delicious dishes that I had never thought to make before and was excited to try.</p> <p dir="ltr">Monday’s dinner was the <strong>Easy Chorizo &amp; Corn Ciabatta Melt with Pear Salad</strong>: a nice and easy meal to ease into the week. </p> <p dir="ltr">The Italian-inspired meal was full of flavour, with the pear salad adding so much freshness. </p> <p dir="ltr">The minimal effort dish has since made its way into our weekly rotation of dinners, with the hands-on time being less than 30 minutes and an instant weeknight favourite. </p> <p><img src="https://oversixtydev.blob.core.windows.net/media/2022/03/P1011885.jpg" alt="" width="1278" height="720" /></p> <p><img src="https://oversixtydev.blob.core.windows.net/media/2022/03/P1011895.jpg" alt="" width="1278" height="720" /></p> <p dir="ltr">On Tuesday, I made the mouth-watering <strong>Haloumi &amp; Tomato Relish Burger with Sweet Potato Wedges</strong>. </p> <p dir="ltr">This irresistible burger was another super quick and easy weeknight dinner guaranteed to beat any takeaway burger cravings. </p> <p dir="ltr">With minimal ingredients, it's astonishing how this relatively simple dinner could pack such a flavourful punch, but it was an instant winner in my house. </p> <p dir="ltr">The vegetarian dish showcased a way of making burgers I had never thought of before, and I will definitely be making this dish again. </p> <p><img src="https://oversixtydev.blob.core.windows.net/media/2022/03/P1011828.jpg" alt="" width="1278" height="720" /></p> <p><img src="https://oversixtydev.blob.core.windows.net/media/2022/03/P1011830.jpg" alt="" width="1278" height="720" /></p> <p dir="ltr">Wednesday was Mexican night, with <strong>Beef Enchiladas with Corn Salsa &amp; Sour Cream</strong> on the menu. </p> <p dir="ltr">This dish warranted a little bit of creative liberty, as I accidentally added the corn salsa inside the enchiladas rather than on top (sometimes it pays to stop and read the recipe card properly…)</p> <p dir="ltr">Nevertheless, we carry on! These enchiladas were a delicious answer to a Mexican fiesta, with the option to add more spice always available with any HelloFresh meal.</p> <p dir="ltr">This colourful and delicious dinner is a must-try for any lover of Mexican food, along with a recommendation from yours truly to slow down and read the recipe before you start.</p> <p><img src="https://oversixtydev.blob.core.windows.net/media/2022/03/P1011840.jpg" alt="" width="1278" height="720" /></p> <p><img src="https://oversixtydev.blob.core.windows.net/media/2022/03/P1011844.jpg" alt="" width="1278" height="720" /></p> <p dir="ltr">Thursday’s dinner was the <strong>Quick Sweet Chilli-Lime Chicken with Sesame Konjac Noodles &amp; Veggies</strong>. </p> <p dir="ltr">This fresh and zingy meal was so quick and easy to make, with the fresh ingredients making a huge difference. </p> <p dir="ltr">The Asian-inspired stir fry used delicious spices and flavours that I had never thought of using before, and will definitely be added into my next stir-fry.</p> <p><img src="https://oversixtydev.blob.core.windows.net/media/2022/03/P1011870.jpg" alt="" width="1278" height="720" /></p> <p><img src="https://oversixtydev.blob.core.windows.net/media/2022/03/P1011849.jpg" alt="" width="1278" height="720" /></p> <p dir="ltr">We finished out the week strong on Friday with the <strong>Easy Honey Mustard Pork with Roast Pumpkin, Zucchini &amp; Feta</strong>.</p> <p dir="ltr">Anything with the word “easy” in the title is something I want to be making on a Friday.</p> <p dir="ltr">This flavourful comfort meal was homey and delicious, and you just can’t go wrong with a fresh twist on the classic meat and veggies dinner. </p> <p><img src="https://oversixtydev.blob.core.windows.net/media/2022/03/275734974_507443164447904_814243807490846583_n.jpg" alt="" width="1278" height="720" /></p> <p><img src="https://oversixtydev.blob.core.windows.net/media/2022/03/275007273_529899835369438_5814029601494393651_n.jpg" alt="" width="1278" height="720" /></p> <p dir="ltr">I could not recommend HelloFresh enough to anyone who is trying to make dinner times easier and more enjoyable, while also injecting some inspiration and creativity into the kitchen. </p> <p dir="ltr">HelloFresh is now offering a generous seniors discount, which can be activated simply by clicking the “Try Now” button on the <a href="https://www.hellofresh.com.au/meal-kits/senior-discounts" target="_blank" rel="noopener">home page</a>.</p> <p dir="ltr">Simply confirm your age to claim the discount and you are good to go!</p> <p dir="ltr">With a range of inventive dishes that are a must-try for any food lover, or anyone who wants their dinners made quickly and easily, there’s a reason so many Aussies are turning to HelloFresh to have their inspiration delivered right to their door. </p> <p dir="ltr"><em>Image credits: Hamish Stevens</em></p>

Food & Wine

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“Fairytale” chateau re-listed with million-dollar discount

<p dir="ltr">An estate dubbed Chateau Jardin Perfume has taken a price cut after being on the market since mid 2021.</p><p dir="ltr">The chateau-inspired mansion was first listed for $8 and $8.8 million, and has been <a href="https://www.domain.com.au/sassafras-vic-3787-2017057790" target="_blank" rel="noopener">relisted</a> with a price guide between $5.7 and $6.2 million.</p><p dir="ltr">Located in the town of Sassafras in Victoria’s Dandenong Ranges, the home has been renovated and filled with French chandeliers, Italian porcelain floors, custom statues, and an imported staircase.</p><p dir="ltr">The three-bedroom, three-bathroom house sits on 2600 square metres and has been described as a “fairytale”, “off-the-charts” and a “palace in the sky”.</p><p dir="ltr">Its current owners first bought the home in 2016 for $2.66 million, when it was marketed as “Beauxbatons Manor”, referencing the French wizardry school in the Harry Potter books.</p><p dir="ltr">After completing a swift, multimillion-dollar renovation, Peninsula Sotheby’s International says it has become the kind of home you’d find in the Hollywood Hills.</p><p dir="ltr">“When you look at the colouring of the decor, the splashes of pink, the outdoor furniture, which is all from LA, the Rolls-Royce in the garage, it is very Hollywood Hills, even with the aspect over Melbourne city which is typical of what you would see in LA,” agent Rob Curtain said.</p><p dir="ltr">Along with the glamourous finishings, the home features vivid colours and patterns like fuschia and leopard print throughout.</p><p dir="ltr">Originally, the interior and exterior furniture and furnishings - except the artwork - were included with the home.</p><p dir="ltr">With the relisting of the home, Mr Curtain told <em><a href="https://www.nine.com.au/property/news/fairytale-mansion-dandenong-ranges-for-sale/aef16231-7655-4cee-85a5-351dbc618f47" target="_blank" rel="noopener">Domain</a> </em>that the price would be readjusted accordingly if the prospective buyer didn’t wish to buy the fixtures and fittings - which may explain the new, reduced price.</p><p dir="ltr">Other luxe features include two separate master wings, a six-car garage, a “gold-class” theatre room with space for eight people, and an opulent cigar room.</p><p dir="ltr">The extensive renovations also saw the grounds undergo a major transformation, with the 2400-square-metre grounds undergoing extensive landscaping to create gardens filled with roses, camelias, gardenias, tulips, freesias, hyacinth, jasmine and Mexican orange blossom.</p><p dir="ltr">The fairytale atmosphere is made complete with the stunning pool featuring a mosaic tile rose on the bottom, as we</p><p dir="ltr">ll as with a series of stone paths and twinkling lights.</p><p dir="ltr"><em>Images: Domain</em></p>

Real Estate

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Supermarket hack: Coles' new discount to save you money

<p>Tossing through the ugly fruits and veggies to get the good ones will no longer be a problem shoppers have to face anymore.</p> <p>Supermarket giant Coles will now be selling “ugly” fruit and vegetables at discounted prices to reduce food waste.</p> <p>It’s new program "I’m Perfect" will sell fruit and veggies once considered “ugly” at reduced prices to customers who don’t mind a few blemishes or bruises.</p> <p>The low-cost items will include apples, oranges, pears, carrots, onions, sweet potatoes and lemons.</p> <p>The new I’m Perfect range has launched in Victoria and South Australia for a trial period.</p> <p><img style="width: 500px; height:281.25px;" src="https://oversixtydev.blob.core.windows.net/media/7827113/perfect.jpg" alt="" data-udi="umb://media/829ed8d7f09e47f79b17bbf0aa7ff94f" /></p> <p>The supermarket’s competitor Woolworths has been selling imperfect produce since 2014, through their Odd Bunch program.</p> <p>Coles General Manager of Produce Brad Gorman said in a statement the initiative would save a large quantity of fruit and veggies from being wasted.</p> <p>“Our customers know that regardless of shape, size or any small cosmetic blemishes, Coles produce is fresh and bursting with flavour,” he said.</p> <p>“So when we were thinking how to package produce that looked a little less than perfect, we thought we’d celebrate the fact that great-tasting fruit and veggies come in all shapes and sizes.”</p> <p>The new range has been well received by suppliers, including Adelaide Hills apple grower Tony Ceravolo.</p> <p>“All of our fruit is grown outdoors and exposed to the elements and while we do our best to minimise weather impacts, inevitably Mother Nature sometimes proves too strong for us,” he said.</p> <p>“[Coles is] encouraging people to buy our apples that are a little flawed on the outside, but with the same crunch and taste that’s adored by their customers. It’s win-win-win – a win for customers, a win for us, and a win for reducing food waste.”</p>

Retirement Income

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Easter egg sale frenzy! How to get 50% off at Coles and Woolworths

<p>Good news for chocoholics! Coles and Woolworths have slashed the prices of their Easter chocolates, with iconic brands such as Cadbury and Lindt selling at a huge discount.</p> <p>From today, April 17, Coles and Woolworths are offering markdowns on their Easter chocolates, which includes Easter eggs, bunnies as well as discounts on traditional blocks of chocolate.</p> <p>One of the sweeter deals on offer is the discount on the 1kg Lindt bunny offered at Woolworths, which is usually $80 but will be selling at $60.</p> <p>Other Lindt items on sale at both stores include:</p> <ul> <li>$30 Lindt Easter Gala Box, which has been discounted to $15</li> <li>$5.50 Lindt Gold Bunny, which is now $4.50</li> <li>Mini eggs, which have dropped from $16 to $8 </li> </ul> <p>The discount also includes the Lindt Lindor chocolates, which have gone from $20 to $10 overnight.</p> <p>However, if you’re more of a fan of Cadbury chocoloate, there are discounts for your sweet tooth as well.</p> <p>Discounts for Cadbury include:</p> <ul> <li>Favourites packets down to $9.50</li> <li>Mixed bags of eggs from $15 down to $12</li> <li>Larger Easter bunnies from $4.50 down to $4 </li> </ul> <p>Toblerone bars, Celebrations chocolates, Maltesers and M&amp;M’s are similarly reduced, costing $5 a bag.</p> <p>If you’re a fan of the Italian Ferrero Rocher’s, their box of 16 is half price, which is now $6.30 instead of $12.60.</p> <p>There are likely to be further markdowns closer to Sunday, as the supermarkets attempt to clear their Easter stock.</p> <p>Most Woolworths and Coles stores will be closed on Good Friday, but open for the majority of the weekend with Easter trading hours in place, for last-minute goodies and treats.</p> <p>Normal trading hours will resume the following Tuesday.</p> <p>Are you heading to a Woolies or Coles near you, to stock up on chocolate? Let us know in the comments.</p>

Money & Banking

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Discount hacks: Former employee reveals the secrets Kmart doesn't want you to know

<p>A former employee at Kmart has revealed the best tips and tricks in order to make the most out of the savings on offer at the retail discount giant.</p> <p>Rita Kaminski worked at Kmart from the age 15 to 19 whilst she was at school.</p> <p>Her tips, according to <a rel="noopener" href="https://www.dailymail.co.uk/femail/article-6906111/Former-Kmart-employee-reveals-shoppers-discounts.html" target="_blank">The Daily Mail</a>, are as follows:</p> <p><strong>1. The stock will drop in price</strong></p> <p>Rita recommends finding a friend who works at Kmart so they can keep an eye on the catalogue for you.</p> <p>However, if you don’t have any friends that work at Kmart, keep an eye on your local store and drop in from time to time.</p> <p>“A lot of the stock will always change in price,” she explained.</p> <p>“If it's something that isn't in the catalogue but it has been in the store for a long time, especially clothes, they can sometimes go on sale for as little as $1.”</p> <p><strong>2. Look at the barcodes</strong></p> <p>Rita recommends checking the barcode of an item before buying it, especially if you’re looking at an upgraded model of the same product.</p> <p>“The last digit on the barcode changes after every new season,” she said.</p> <p>“So if there are two toasters that look exactly the same and the last digit of one barcode is eight and the other is nine, the one with the eight should be cheaper.”</p> <p><strong>3. There is extra stock that exists</strong></p> <p>Turns out there is extra stock available.</p> <p>However, the whereabouts of it all isn’t known to everyone. Rita recommends visiting the store between 8 am and 5 pm as this is when the full-time employees are on, who are more knowledgeable about the store.</p> <p>You can also inquire about specific games and they might have it out the back.</p> <p>“There are thousands of games in storage, so if you're looking for something in particular, just ask,” Rita said.</p> <p><strong>4. The cheapest time to visit is after a major holiday (such as Easter or Christmas)    </strong></p> <p>With Easter coming up, this is the best time to head into Kmart as this is where the best bargains are.</p> <p>Rita explained:</p> <p>“The best bargains are right after Christmas and after Easter,” Rita said.</p> <p>“On Boxing Day there's a whole section that drops down to between five cents and $5 but it is usually wiped out on Boxing Day by customers so it's good to come in early.</p> <p>“In between campaign periods like 'Back To School' they would mark things down because it's not as busy but a lot of the times, quite randomly, they will slash the prices of a bulk number of books, clothes or appliances.</p> <p>“It's usually when a newer model/garment has been updated, fixed or isn't selling.</p> <p>“The price will drop down drastically but the item doesn't really change by much.”</p> <p>Are you going to utilise these tips? Let us know in the comments.</p>

Money & Banking

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Kmart fans go crazy over discount store's exciting new plan

<p>Elated Kmart fans are rejoicing as the major discount department store has announced that they’re introducing Afterpay.</p> <p>The service allows people to pay for items in four equal instalments every fortnight.</p> <p>If the repayments are made on time then there is nothing extra to pay, but a late fee is charged if you miss a payment.</p> <p>Kmart announced via Facebook that it would release further information regarding its partnership with Afterpay for online services.</p> <p><iframe src="https://www.facebook.com/plugins/post.php?href=https%3A%2F%2Fwww.facebook.com%2FKmartAustralia%2Fposts%2F1803284346437144&amp;width=500" width="500" height="211" style="border: none; overflow: hidden;" scrolling="no" frameborder="0" allowtransparency="true" allow="encrypted-media"></iframe></p> <p>The post has garnered major attention as it has been liked over 13,000 times.</p> <p>“This is great,” said one shopper. “If you all keep to a budget it’s the best thing for Christmas, birthdays, or if you need something in a hurry.”</p> <p>Others were worried that this will further fuel their shopping addiction: “My dream has come true … but now I shall be forever in debt hahaha no just joking.”</p> <p>One husband was worried about his future: “Now I have to lock my wife in a cage without internet access. I’ll tell her that you miss her ….”</p> <p>But it wasn’t positive reactions all around, as some were far less enthusiastic, saying people who could not afford to shop at the retailer shouldn’t be shopping at all.</p> <p>“Can see all the people getting into debt over this," said one woman.</p> <p>Many were confused as they questioned the difference between Afterpay and lay-by but one man pointed out that with Afterpay, shoppers receive the product on the spot while paying it off in eight weeks.</p> <p>Kmart has a cult following with many new items selling out the moment they land on shelves, which has seen the company's profits lift significantly to over $500 million a year.</p> <p>Are you excited by this news? Have you used Afterpay before? Let us know in the comments below.</p>

Money & Banking

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Australia’s favourite discount department store has been named

<p>Who doesn’t love a bargain? With one store standing out amongst the rest, Australia has spoken and named their favourite discount department store – and it’s not Kmart.</p> <p>Beating the likes of Target, Big W and Best &amp; Less, Costco has been named as Australia’s leading discount department store with a score of 88.6 per cent in customer satisfaction, Roy Morgan’s latest research shows.</p> <p>With Target at 88.5 per cent and Kmart on 88.4, Costco just squeezed out on top.</p> <p>CEO of Roy Morgan Michele Levine said that Costco is the third discount department store to be awarded the prestigious title after Kmart and Target, which highlights the intense amount of competition between the stores.</p> <p>“Costco’s victory came by a whisker with a customer satisfaction rating of 88.6 per cent [which] was only a hair’s breadth ahead of rivals Target and Kmart,” she said.</p> <p>“It comes as the American retailer has unveiled plans for an ambitious expansion with a huge new distribution centre set to open in Sydney’s west next year signalling an expanded online retail presence.”</p> <p>The biggest improvement was from Best &amp; Less which scored a customer satisfaction rating of 86.4 per cent, which is a growth of 1.8 per cent in the last 12 months.<br />Costco improved by 1.7 per cent and Target rose by 1.5 per cent.</p> <p>Levine said that the high scores reflected how seriously the department store giants took to the threat of Amazon.</p> <p>“Amazon recently became only the second company to top a market capitalisation of $1 trillion,” she explained.</p> <p>“In an increasingly competitive environment with discount department stores facing increasing competition from online retailers such as Amazon, the big two department stores Myer and David Jones, specialist niche retailers and of course each other, maintaining a high level of customer satisfaction and building a reputation of trust is key.”</p> <p>The results are compiled after extensive research which consists of over 50,000 Australian’s taking part in a face-to-face interview, including more than 9,000 interviews with people who shop at discount department stores.</p>

Money & Banking

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Discount retailer wars: Could this be the end for Kmart?

<p>Costco has unveiled plans its giant Australian distribution centre that will service all their stores nationwide as well as their new online store, which will be launched next year.</p> <p>The $78 million facility will be finished in March 2019, with the company planning to move the store online in Australia shortly after that.</p> <p>Experts say that the retail giant’s online store could pose a huge threat to other discount stores, such as Kmart.</p> <p>The distribution centre in Sydney’s west will allow for more Australians to sign up to the $60 annual membership to get products delivered to their door.</p> <p>“Everything we do makes people change. The warehouse concept wasn’t here 10 years ago so we’ve had some impact on the retail scene,” Costco Australia General Manager, Patrick Noone, told <a href="https://www.9news.com.au/"><strong><em style="font-weight: inherit;"><u>Nine News</u></em></strong></a>.</p> <p>The online store will still require a Costco membership, with the company promising to have exclusive online offers around home appliances, furniture and other big-ticket items.</p> <p>Earlier in the year, market research firm Roy Morgan reported that Costco Australia was narrowly beating Kmart in customer satisfaction.</p> <p>Kmart had a nine per cent profit in the first quarter of 2018, which was largely attributed to the retailer’s online store.</p> <p>Costco’s online store will try to compete with other Aussie retailers by stocking the equivalent of 30 stores worth of stock.</p> <p>QUT international business expert Gary Mortimer believes Costco will “absolutely” be able to compete online in Australia, reported <a href="https://thenewdaily.com.au"><strong><em style="font-weight: inherit;"><u>The New Daily.</u></em></strong></a></p> <p>“Costco is certainly concerned about Amazon's entrance to the Australian market,” he said.</p> <p>“Ultimately, it does represent a threat to incumbent supermarkets and department stores in Australia.”</p> <p>Costco’s distribution centre, which is the size of 17 Olympic football fields, will create close to 1000 jobs and have the capability to distribute to 30 warehouses.</p> <p>“This location is ideal for housing our depot and providing hundreds of jobs in Sydney's booming west,” Mr Noone said.</p> <p>Last week, Costco opened a $55 million warehouse in Epping, Melbourne.</p> <p>Are you excited for Costco’s online store to be launched in Australia? Let us know in the comments below. </p>

Money & Banking

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The Aussie discount mall that is beating the big-name retailers

<p>It has long been known as the shopping outlet full of old stock and factory seconds, but DFO is now attracting more Australian and overseas tourists than ever before.</p> <p>In the past eight years, DFO has increased its traffic by 40 per cent, welcoming 17 million customers across the country every year. Its sales have also grown at twice the rate of the national retail sector.</p> <p>Australian Bureau of Statistic figures show total retail spending grew 2.5 per cent in May year-on-year, whereas DFO’s tenants’ sales grew 5 per cent last year across its centres in Sydney, Melbourne and Brisbane.</p> <p>Apparel sales were leading the growth at DFO, up 12 per cent in the past two years. Industry wide spending on apparel grew at 3.2 per cent.</p> <p>But it has taken up to a decade for the factory outlet to change its reputation.</p> <p>Queensland University of Technology retail expert Dr Gary Mortimer said DFO was initially seen as a dumping ground for old stock.</p> <p>“It had odd sizes, end of range season clothing, outdated styles and colours,” he told <strong><u><a href="https://www.news.com.au/finance/business/retail/dfo-is-growing-at-twice-the-rate-of-the-national-retail-sector/news-story/0cd6c97b0742c130b6a456ec46313ee5">news.com.au</a></u></strong>.</p> <p>But Vicinity Centres, which owns the DFO brand licence in Australia, has overhauled the factory outlet.</p> <p>“When you come to DFOs you’re having a better experience in getting the sizes that you like, and the quality of brands that you like,” Vicinity Centres DFO regional general manager Justin Blumfield said.</p> <p>DFO has recently expanded its portfolio to include better quality local and international designer brands. Some retailers are even stocking items specifically for their DFO outlets.</p> <p>“Now, more than a third of retailers have stock specifically for DFO including Coach, Michael Kors and Portmans,” Mr Blumfield said.</p> <p> “We are seeing premium quality outlets delivering high levels of occupancy and income growth,” Mr Blumfield said.</p> <p>The general manager said outlet shopping was the fastest growing sector of the industry and wants to position DFO as a “destination” for discount sales.</p> <p>“We’ve got a clear strategy at the DFO which differentiates ourself from traditional retail — so we feel that it can complement the traditional shop rather than cannibalise it,” he said.</p> <p>Do you shop at DFO? Do you prefer it over traditional retailers? Let us know in the comments below.</p>

Money & Banking

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Coles boss says supermarkets at point of discounting “madness”

<p>Coles’ outgoing managing director John Durkan says supermarkets have reached a point of discounting “madness” and believes customers would rather consistently lower prices than aisles that are littered with discount tags.</p> <p><a href="https://www.smh.com.au/" target="_blank"><span style="text-decoration: underline;"><em><strong>Speaking to Fairfax</strong></em></span></a>, Mr Durkan said shoppers would rather trust they were getting good value on everyday essentials, rather than hunting for discounts every time they shop.</p> <p>“Customers are saying they’d like to see the same price everyday, every week, and that’s our drive - to lower the price, so you don’t have to think about it," Mr Durkan said on Thursday. "It’s much easier not to have to think about it.”</p> <p>Mr Durkan also believes discounting has wreaked havoc on supermarket’s supply chain, but artificially causing spikes in demand for discounted products.</p> <p><a href="https://www.smh.com.au/" target="_blank"><span style="text-decoration: underline;"><em><strong>Fairfax Media reports</strong></em></span></a> about 40 per cent of sales across Australian supermarkets comes through promoted products, and while Mr Durkan has driven the figure at Coles down to 30 per cent, he was hoping to bring that number even lower.</p> <p>"We’ll always give great promotions to our customers - we just don't need to be giving them at the size and level that we are at the moment," he said.</p> <p>Mr Durkan is set to hand the reigns of the supermarket over to new managing director Steven Cain in October. Coles is set to be spun off into a separately listed company from Wesfarmers later this year and faces challenges from new market players Kaufland and Amazon, but Mr Durkan remains optimistic about its immediate future.</p> <p>"Wesfarmers is going to be an owner of stock in this business and they want to see it successful," he said. </p> <p>"All the conversations ... suggest that it's going to be the right level of debt."</p> <p>What are your thoughts?</p>

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