Woolworths Another byte of the cherry
Some revealing stuff this week from The Dapper One about how they intend to continue to totally crush it for the forseeable future: they’re going to use those computer gadgets we’ve been seeing more and more of these days. That’s right: it’s all about data-driven strategy, apparently, and in this regard Aussie businesses Witchery and Country Road are the leading lights in the group. Feeding the need for this data is an increasingly wired shopper base, with online now accounting for 20% of sales at Country Road, for example, and growing at 55% per annum; and the large number of punters with Woolies’ plastic in their wallets – 73% of shoppers now carry a WRewards, MySchool or Woolworths credit card, and these represent a rich seam of data and insights. That’s not the only change coming down the pike: in ten years, black shoppers have gone from 20% to over half of the total in the South African business, and this is likely to continue. On the downside, Woolies expect competition from international retailers to be a growing feature of the SA retail landscape.
Comment: Fascinating stuff from a retailer which is adept at keeping up with the challenges and opportunities of the day.