The plan by Woolworths to off-load its Dick Smith electronic stores is moving ahead with formal negotiations taking place with a number of parties, according to Woolworths chief executive, Grant O’Brien.
“We are still going through the sales processes and expect a clearer indication of where it is heading within the next four weeks,” he said.
In what should be cheering news for the CE industry, O’Brien said that the sale is expected to go to a local purchaser and Dick Smith stores are unlikely to be split up.
“It is difficult to nail to an exact date but at the end of the day negotiations stop when both parties agree to stop.”
O’Brien said technology product sales were tracking well and the company was pushing hard to give customers a better understanding of what the technology provides.
He said there are challenges for retailers like Woolworths to increase the reasons for people to visit stores. “Our online strategy is well underway but retailers can become unstuck if in the run to online they forget about the relevance of their bricks and mortar business.”
Even Woolworths is talking about creating ‘theatre’ in its stores, recently introducing special sushi counters with sushi chefs. Innovations like these are being integrated into the technology space.
“We are working on an app that when the customer drives into a car park it recognises your previous shopping experience and directs the customer through the store based on this.”
This article first appeared on www.ttmag.com.au