Myer Pty Ltd in Retailing (Australia) - Euromonitor

Myer Pty Ltd in Retailing (Australia)

Myer Pty Ltd in Retailing (Australia) - Euromonitor
Myer Pty Ltd in Retailing (Australia)
Published Jul 01, 2013
5 pages — Published Jul 01, 2013
Price US$ 150.00  |  Buy this Report Now

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Myer Ltd dates back to ----, when it was founded by Sidney Myer and his brother. From a single outlet in Bendigo, the brothers expanded the business over time. ...However, the period in which the company was listed saw difficult trading conditions, during which the company s performance failed to meet the value growth projected in the prospectus. In an environment where consumers are able to look online for the best price on identical items, and at a time when consumer confidence is at a low, Myer Pty Ltd spent the last two years of the review period ensuring it offers a value for money proposition. To achieve this, Myer has looked to grow its in-store concessions, as these tend to have a consistent price online in the concession offering s own stores and in the Myer concessions. ...The retailer has also looked to grow private label offerings, as the integrated nature of the supply and development of these products offers the retailer higher margins at lower unit prices. Thirdly, Myer has pursued price harmonisation on national and global brands to help its prices come more in line with global competitors which can sell into Australia via the internet.

...The company was ranked first in the department store channel in ----, with a -- value share. The company s share declined slightly in ----, as price-conscious consumers switched to discount stores like Target, Kmart and Big W. The company recorded lower value sales in consumer electronics in particular, as prices in that category deflated and specialist competitors like JB Hi-Fi Ltd were more favoured by consumers. In a weak retail environment, Myer Ltd is looking at key product categories to focus on, especially its strength in fashion apparel, beauty products and housewares, instead of spreading itself too thin by being in too many categories. This will allow the company to compete effectively, optimise its retail space and source products which are different from those of other retailers. ...

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Euromonitor. "Myer Pty Ltd in Retailing (Australia)" Jul 01, 2013. Alacra Store. Apr 26, 2018. <>
Euromonitor. (2013). Myer Pty Ltd in Retailing (Australia) Jul 01, 2013. New York, NY: Alacra Store. Retrieved Apr 26, 2018 from <>
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