‘Putting out fires’: Coles’ new plan to beat Woolies
Coles will focus on “putting out the fires” in its business while shifting its strategy to focus more on pleasing wealthier customers and meeting the demands of tech-savvy millennial shoppers, the supermarket’s boss says.
Managing director John Durkan said it could “never give up” being competitive with its rivals but had to do more than just trying to attract shoppers on price as it attempts to regain momentum lost to Woolworths.
Mr Durkan said Coles was in the early stages of rolling out an “evolution” in its corporate strategy – the third such pivot during his 10 years at Coles – to ensure the supermarket remained relevant as the market and its customer base changes.
A priority for the first two years is “putting out the fires”, which Mr Durkan said referred to getting retail basics right such as stock availability, staff levels, and making sure car parks were freshly painted and pothole-free.
“We want to make sure that all of our fresh departments are full and available in the evening for our evening customers. For a customer, doing that would be putting out a fire,” he told Fairfax Media. Sydney Monring Herald – Read more…