Woolworths Group will close the MyDeal customer website by September 30, 2025 and consolidate its retail marketplace operations into BIG W Market and Everyday Market on woolworths.com.au.
The move is part of a broader review of the group’s portfolio to improve profitability and returns on capital.
“In February we said that we would assess the shape of the Group portfolio to address areas where there was not a clear path to profitability or the prospect of a reasonable return on capital,” said Amanda Bardwell, Woolworths Group CEO.
Bardwell acknowledged MyDeal’s contribution in building the Group’s marketplace capabilities, but said the competitive environment and stronger performance of integrated marketplaces influenced the decision.
“MyDeal has brought marketplace expertise and leading technology to the Group’s marketplace platform, Woolworths MarketPlus, enabling rapid GMV 1growth. However, given the intensely competitive environment and the superior economics of marketplaces integrated into retail brands, we have made the decision to close the MyDeal customer website,” she said.
“The closure of MyDeal will lead to a meaningful reduction in Woolworths MarketPlus operating losses once completed.”
Woolworths MarketPlus will continue to use MyDeal’s technology, seller relationships, and capabilities to grow BIG W Market and Everyday Market.
“We would like to thank Sean Senvirtne and the MyDeal team for their hard work and contribution to Woolworths Group in establishing Woolworths MarketPlus,” Bardwell added.
The closure is expected to result in cash costs of $90 to $100 million, including payments for remaining equity interests and redundancies. Non-cash costs will include a $45 million asset impairment.
Woolworths Group will provide more detail on the one-off closure costs in its FY25 results in August.