Finally we have seen the nail in the coffin for Woolies (Woolworth's) the UK's favourite low end store. I remember as a child going to woolies to get my sweets, pick n mix, school stationary and even more recently buying my son's fancy dress items for his kids parties! How sad now that this British institution will be no longer.
So why did this happen?
In a nutshell, this happened because woolies never moved with the time. They had built a large network of shops selling small cheap items, however, competition from supermarkets who had scale to stock such items, and the power of internet shopping have been the killers of Woolies.
Tesco sells all the items most families need including food, Woolies didn't.
Tesco has car parking, Woolies didn't.
Tesco has a loyalty scheme, Woolies didn't
Tesco has a strong online presence, Woolies didn't.
The list goes on. Woolies really did not move with the time and resisted change. Ultimately, change is inevitable, rather than resist it, all of us must embrace change, whatever, the consquences may be.
Subscribe to:
Post Comments (Atom)
Posts
No comments:
Post a Comment