Every Thursday, our CEO Dominique Lamb, and a panel of retail experts discuss Australia’s retail industry on ABC Radio. Below are some insights from last Thursday’s discussion.
Pizza Hut is offering old-school experiences with a modern twist
Over the past couple of decades, Pizza Hut lost a foothold in the Australian market. But the strategists at Pizza Hut are hoping for a comeback. Part of their plan is to tap into that nostalgic fondness and bring back the eat-in experience, but with a contemporary spin.
They have opened a concept restaurant in Waterloo, Sydney, with refurbishments reminiscent of the popular 1950s-style pizza restaurant.
While the new refurbishments are undeniably modern, there are still plenty of hat-tips to the Pizza Hut of years gone by, to tap into that nostalgia element, with Pizza Hut Pete on the walls, and coasters featuring vintage photos and placemats with retro facts.
The Retail Panel believe retro is back, with a lot of inspiration stemming from the ‘hipster’ trends out of Melbourne, and a preference for new and unique experiences.
Lululemon CEO resigns for unspecified misconduct
In international retail news, the CEO of Lululemon has resigned due to unspecified misconduct, citing behaviour that did not match the brand’s standards. It was important for Lululemon to take these allegations seriously, acknowledging that the brand must reflect the values of the people that shop there.
Dominique Lamb said brands that are doing well are those that make sure everyone in the company has a real understanding of gender equity, and taking ownership of the conduct of the people that work for them as representatives of their brand.
Kmart and Target taking ‘brand agnostic’ approach
Wesfarmers has revealed it will be shrinking department store Target retail chains as part of its new ‘brand agnostic’ approach, seeing unprofitable Target stores converted into more profitable Kmart stores.
The Retail Panel believe the Kmart strategy is working for Wesfarmers, using tactics ranging from clever store designs, product designs, reducing choice ranges and increasing volume, loss prevention tactics and more to increase profitability.
The Retail Panel also acknowledge Kmart’s online promotional value, such as the popular ‘Kmart Hacks’ showcasing the functionality of popular Kmart products.
You can listen to the Retail Panel every Thursday on ABC Radio from 5pm or listen to the podcast here!
Steve Austin is joined by retail experts Christine Moody from Brand Audits, Dominique Lamb from the National Retail Association and Gary Mortimer from QUT’s School of Business to discuss these issues and more.
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- How is technology advancement affecting retailers?
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- How do franchisors manage their relationships with franchisees or managers?
- What are businesses doing to ensure compliance, deal with vulnerable workers legislation, and effectively manage these competing issues in business?
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