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2101 Inside Retail Weekly

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Lowes' inadequacy key to Masters' downfall BY JUSTIN GREY I N S I D E T H I S I S S U E : Former Woolworths CEO and long-serving Australian retail executive, Roger Corbett, has backed up his recent claims that a lack of hardware experience from US partner, Lowes, played a key role in the failure of Woolworths' Masters Home Improvements hardware venture. Speaking to Inside Retail Weekly last week, the outspoken Corbett, who recently stepped away from his most recent advi- sory role to the Woolworths board, reiter- ated that "a lot" of Masters' failure can be put down to Lowes overstated hardware experience. Corbett said that Masters' merchandising was never going to match up to that of Wesfarmers-owned archrival, Bunnings. "Masters failed because they were really just out-merchandised by Bunnings," Corbett told IRW. "The execution of the merchandising inside the stores was not nearly as good as Bunnings. And here's Lowes, supposed to be a world-renowned expert, and the assort- ments were nowhere near as good as the Bunnings assortments. Nowhere near. "This is a very good example of what may work in America, does not necessarily work in Australia." Corbett also called into question market research that had identified that a lot of women buy hardware goods. He said this also contributed to Masters' merchandising missing the mark. "They tried to produce a female version of a Bunnings that was gender-friendly. They ended up with something that was neither a homewares store nor a hardware store; it was somewhere in between. It didn't have a dominance and an effective homewares feel about it, and it sure didn't have a hardware feel about it. It just hasn't got that sharp edge that a Bunnings has got, and I think it's a bit dissatisfying on either end of the spectrum. To read more from IRW's interview with Roger Corbett, turn over to page 20 of this issue. RRP $14.95 INSIDE RETAIL WEEKLY OPINION: Bad timing for The Good Guys ASX listing challenges after Dick Smith, Kogan woes. p06 FEATURE: Pokémon Go & retail Leveraging Pokémon Go for customer conversion. p12 NEWS: Myer partners with John Lewis Myer to sell John Lewis homewares in select stores. p02 NEWS: Westfield Breakfast series Line-up announced for 2016 Breakfast seminar series. p03 NEWS: Amplify risk to reduce shoplifting Inside Retail Academy event on loss prevention. p04 OPINION: Amazon Fresh in Oz? Is Australia ready for the online grocery revolution? p10 Inside news and views on the world of retail since 1972 JULY 20 2016 F O R M O R E R E T A I L N E W S , V I S I T W W W . I N S I D E R E T A I L . C O M . A U I S S U E 2 1 0 1

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