How Would You Make Myer Profitable?

confusedhuh on 09/10/2018 - 11:29
Last edited 10/10/2018 - 17:21 by 1 other user

You must have read if not - Myer posts 'disappointing' $486 million loss - article here - http://www.abc.net.au/news/2018-09-12/myer-full-year-results…

Went to the local Myer store to collect a few items bought online and as usual the customer service was atrocious, no one to be seen, finally found someone and he was on the phone for ages while the queue went to 5 people. When asked about a product staff keep pointing to each other instead of taking accountability for it.

The online store is equally bad, half the descriptions are either empty or have half baked information.

So here is the question, if you were made the CEO today for Myer what would be your top 3 strategies to turn it around ?

General Discussion

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Comments

  • big1964 on 09/10/2018 - 14:39
    +3

    I wonder how many people here actually work in a big dept store I find that some people want you to hold their hand through the "entire" store to help make up there mind on what they want to buy,and they want your "opinion" on what they are buying and I think to myself "what I like and want you like may be very different"
    Other customers just want to be left alone and if they want help they will ask for it!!
    Other problems are that is someone calls in sick they generally don't get replaced and if someone goes on annual leave they don't get replaced!! So therefore the service level on those days is down!!
    I don't work at myers but since I have been in retail I have a bit more patience for the people who are working in retail who are just trying to earn a living!!!
    Remember the bigger the store the more items they have its "impossible" to be an expert on every single item in the store.
    Alot of shops seem to think that less "staff" equals more profit when in reality if you get good service you are inclined to come back!!!
    The retail environment has changed probably not for the better!!!

  • coxjon on 09/10/2018 - 14:39
    +13

    Drop the 's' in their name to save 20% on printing and signage = "Myer"

    Re-educate customers that they should shop at Myer not Myers as Myers would be taking some of their sales.

    • Rusty4 on 10/10/2018 - 13:23
      +1

      This annoys me so much, probably more than it should.

      Even worse: "Let's go to Oportos"

  • Matwin23 on 09/10/2018 - 14:54
    +2

    This as said by deelaroo…

    3.Streamline the stores and staff. Lots of wasted space with the multiple checkouts and crap. Instead of these staff having to deal with running a til have them full time doing their actual job of customer service.

    4.Test your customer service staff - if someone is in the "kitchenware" area test them, make sure they are an expert on it. Got someone in the Mens Suits? Make sure they know what they are on about. Get some undercover testing in the stores happening….

    The only thing Myer has going for it is customer service (currently non-existent) so this should be the focus to differentiate it from other retail and online stores.

    • pennae on 12/10/2018 - 00:41

      I worked for Myer in the early naughties and No. 4 is exactly what would happen. We’d have regular tests of our product knowledge and there was opportunity to complete Certificates in Retail. That all stopped with the split from the Coles group.

  • c64 on 09/10/2018 - 14:58

    How Would You Make Myers Profitable?

    turn it into a rejectshop?

    • macrocephalic on 09/10/2018 - 16:35

      Are those still profitable? What happened to all the Crazy Clarkes stores that were everywhere a decade ago?

      • cloudy on 09/10/2018 - 17:32
        +1

        Got beaten by reject shops better price and quality of stuff.

        Reject shop is profitable

        • SirFlibbled on 19/10/2018 - 15:20

          Except they just announced a downturn in profit themselves. Even on their up beat projections it's not THAT profitable. 370 stores and $10-17m in profit. That's about $30-50K profit per store per year.

          • cloudy on 19/10/2018 - 21:07

            @SirFlibbled: Goes to show they sell stuff on tiny margins, meaning as a consumer you are paying close to wholesale prices. All the more reason to shop there.

  • chumlee on 09/10/2018 - 17:00
    +3

    They should bring out Jennifer Hawkins to stores with a wardrobe malfunction again

  • Rifraf on 09/10/2018 - 17:03
    +2

    Don't care.

    I don't shop there

  • GG57 on 09/10/2018 - 17:04

    It isn't the same as Myer, but there is an incredible chain of stores in the UK called Argos.

    Previously you went to a retail Argos store, and they had a few items to look at with the rest of the range in (paper) catalogues. You chose your product from the catalogue and they would either get it from the back of the store or you might need to get it delivered, or call back.

    The catalogues were in everyone's homes as well, so you could catalogue shop if you wanted to.

    Now, the store fronts are still there, with a few more items available to look at, but the catalogue (and ordering) are electronic. If they don't have the product in store, they usually deliver it same day.

    • Roman Sandstorm on 10/10/2018 - 16:09

      Previously you went to a retail Argos store, and they had a few items to look at with the rest of the range in (paper) catalogues. You chose your product from the catalogue and they would either get it from the back of the store or you might need to get it delivered, or call back.

      Man, this sounds like the Soviet Union.

      Ahhh…. those golden days in Moscow years ago…. the stores having almost no stock… queuing for ages, just to get to the counter, just to ask a question. And then the blunt response: "Nyet".

      The devastating disappointment of the shopping experience.

  • Godric on 09/10/2018 - 17:17
    +2

    Probably to not over price their stock, $90 for Tommy Hilfiger polo..

    • hadz on 09/10/2018 - 20:52
      +1

      If you cant afford it just say it. Not a fan of myers but unless theyre selling it over rrp theres no dispute. If myers sells them cheaper than everyone else I dont think tommy would be too happy

  • BuyoTheCat on 09/10/2018 - 17:29
    +6

    they need to reduce their range.
    sell only:
    Bose QC35, Sony WH-1000M
    SSD
    Eneloop (might be a dying trend)
    Telstra phone plans with $200 gift cards back

    put their price up and offer 20% off
    They need to have a mcdonald, KFC and domino franchise in store

    • greatlamp on 10/10/2018 - 18:58
      +4

      So… they should become oz bargain?

      • BartholemewH on 11/10/2018 - 21:46
        +2

        Offer free Harley parking.

  • ilsan0 on 09/10/2018 - 17:32
    +1

    I think its got to do with profit margins and past expectations which are no longer the reality.

    Things to look at would be:

    1. How many physical stores and their respective locations. This has strong Pros (Traffic pull, advertising, etc) and Cons (Rents, poor staffing which results in poor customer experience)

    2. They obviously have strong buying power, so why aren't brands at Myer significantly cheaper than other outlets? Is it poor bargaining from purchase department, are they Silos or huge margin expectations? If Myer and David Jones are Bunnings of fashion world, then their prices should also reflect.

    3. What sort of advertising $$ are being pulled from manufacturers do display and push their stock.

    4. As others have stated, poor online experience. A company like Myer should have slick website and should be able to deliver under 3 hours like Iconic, free returns etc. If they cant innovate, they should at least be able to copy a successful business model.

    5. They have Myer One and all these programs, but if they gave you credit back on your next purchase, that would increase customer loyalty.

    That's all I can think for now.

    • ngengerous on 10/10/2018 - 20:43
      +2

      I'm stumped at the prices too. You'd think that as one of the largest brick & mortar department stores they would have a decent shot at keeping prices down…

  • [Deactivated] on 09/10/2018 - 17:38
    +12

    Hire staff who will actually serve customers at the cash register.

    • hadz on 09/10/2018 - 20:55
      +2

      Agreed. Whenever im there im never served straight away they are always talking and taking so long with their current customer

  • GaryQ on 10/10/2018 - 08:24
    +4

    Bring back the Myer Cafeteria with pie and chips, frog in the pond and a cappuccino for $1

    https://www.heraldsun.com.au/news/victoria/myers-food-halls-…

  • GaryQ on 10/10/2018 - 08:56
    +3

    There needs to be a micro-brewery with $10 an hour VR games placed by each women's change room. My girlfriend can happily spend 2 hours trying on dresses without ever buying anything, but at least I'd generate some profit for Myer during the interminable wait

  • HeWhoKnows on 10/10/2018 - 11:54

    Its not up to you or me
    Myers employs people full time to do this.
    Believe me THEY ARE TRYING!

    • [Deactivated] on 10/10/2018 - 14:12

      The same type of people that changed Arnott's shapes and rebranded Kraft Singles to DairyLea Slices and now advertise that Kraft is here to stay with a different font?

      • abb on 10/10/2018 - 14:36

        Kraft

        Mondelez (former owner of the Kraft name in Australia) actually sold their Australian products (but not brand name) off to Bega…

        Then Kraft-Heinz got the name back from Mondelez, and came into Aus to compete with Bega.

        So that wasn't a rebrand, it was a change of ownership. I buy the Bega stuff because they're Australian, but not 'Singles' because they're bloody disgusting.

  • Bargain4Days on 10/10/2018 - 12:09
    +3

    Simple, have snags at the front

  • hunterhalo on 10/10/2018 - 12:23

    Myer system will fail if they dony change, if anyone been to Vietnam, you might saw plaza called parkson, they are failing and closing so many store, they way they structure and organise store is similar to Myer, cant find staff anywhere, hidden counter

  • mattyman on 10/10/2018 - 12:31
    +2

    In the women's clothes section, setup a waiting area near the change rooms with a console so the guys can chill while their significant others are trying on clothes.

    • niknah on 11/10/2018 - 12:37

      There used to be a floor with console games where they let you try the games out for free before buying. But I think it mostly attracted free loaders like me who never spent anything.

  • casho on 10/10/2018 - 13:03

    Put the staff on commission so only 50% of their pay comes from salary. Suddenly the service will improve!

    • Gandalf the Thrifty on 10/10/2018 - 14:39
      -1

      That doesn't always work in America. Still get shitty service and some places tack on tips (top up wages) automatically to bill.

    • Charity on 12/10/2018 - 22:17
      +1

      Should do this, but don't think it is legal in 2018 in Aus.

      Min wage is so high, it is probably enough to just continue to slack off.

  • weee on 10/10/2018 - 13:50
    +1

    from a customer point of view, you have to create the drive for people to go to your store and actual shop, there's a reason lots of us still go to Officeworks, jbhifi, Bing Lee and even Kmart instead of going online, if you figure that out, there here you go.

  • [Deactivated] on 10/10/2018 - 14:16

    I blame Kris Smith for 99% of Myer's problems. I would fire Kris Smith stat.

    • kerfuffle on 10/10/2018 - 18:13

      Didn’t he get replaced by Josh Gibson or whoever that dude was from I’m A Celebrity Get Me Out Of Here?

      • [Deactivated] on 10/10/2018 - 20:13
        +1

        He's like a nuclear fallout cockroach. He's still there (with Josh Gibson and Elyse Knowles) even when Jennifer Hawkins got the boot. He never goes away. Must be cheap.

  • Fier2 on 10/10/2018 - 14:20

    Myer have to many issues to look at:

    1. Staffs : quite annoying as a customer to be told by a staff that they can t help because different department, different brand, or they just don t like the way you dress or look…

    2. Create some spaces to sit and relax because their shops are usually huge and like other said creating space for partner and kids are great ideas

    3. Having time to time offers and create a better loyalty. Like offering activities for free to kids on special day like easter, halloween,… not only it will draw customer back into shops but also will get them to consume more…

    4. Having competitive price and do price match : if a you can get the same product for the same price without the hassle to order online or drive far, you will keep coming back and buy

    5. A better support for online and instore shopping as many times i heard a lazy staff who didn t even look at the product i m showing on my smartphone and telling me it s only available online

  • burningrage on 10/10/2018 - 14:29

    In Eastland, they are dedicating half floor for indoor playground like Crocs and the rest of that floor is used as Toys section

    I would like to see how that experiment goes.

  • djprima on 10/10/2018 - 14:53
    -3

    Participate in ebay 20% sale and only offer click and collect. At least customers will wander around the store before picking up

    Offer 24 hours 7 days a week opening time, sometimes customer willing to pay a premium if you're the only store open!

    • djprima on 11/10/2018 - 12:00

      Wondering why the negs…

      • [Deactivated] on 11/10/2018 - 12:08
        +2

        I didn't, but the 24/7 idea would be pretty expensive. You really want to pay penalty rates and extra security at 3am in Sydney CBD?

        • djprima on 11/10/2018 - 12:20

          Sometimes you need last minute gifts, or forgot to buy something for someone's birthday tomorrow. Couldn't do it past general 5:30pm closing time and online shopping will not help. Given the margin they have multiplied by the number of people in the above scenario, surely they could calculate if it's worth to pay the penalty rates?

  • idonotknowwhy on 10/10/2018 - 15:43

    I'd probably just rename it back to Myers, to make the boomers correct.

  • Chewy Chunks on 10/10/2018 - 16:21

    I feel like people used to shop at Myer because it was considered upmarket and being able to shop there said something about your social and financial status.

    Those days are (profanity)' long gone. People are happy to sit in their undies at home and buy all their stuff. Myer is dead, buried and cremated.

  • RolandWaites on 10/10/2018 - 16:55
    +1

    Make the perfume section clearer, so I know where the men's section ends and the women's section begins.

  • poochi on 10/10/2018 - 17:05
    +4

    Spread some nasty rumours about Uniqlo.

  • OG Puppy Banana on 10/10/2018 - 17:37
    +4

    High level - Reposition the brand and product mix to luxury (like Lane Crawford) and prepare the balance sheet and P+L for an LBO in 5 years time.

    Steps -

    1. Get rid of all the stores in the suburbs where people have a lower willingness-to-pay (in Melbourne, only keep CBD, Chaddy and maybe Doncaster). In one of the middle band suburbs with a reasonable median income (Like Highpoint), spin up an outlet store. This will lower operating costs across the board and provide some exclusivity to the brand.

    2. Overhaul all product lines and let 80% of stock be the best of the best (Expand to other areas like $10K+ luxury watches and bags), the other 20% to be goods accessible to the upper middle class (I.e. Ralph Lauren, TH, Hugo Boss etc…). Everyone else can pick apart the outlet store. With this approach, we're finding a marketing model where each segment spends every available cent and we're maximising the surplus of each customer segment. We're also focusing on selling goods with high margins and typically goods where the point of sale experience is typically a part of the purchase. Both these factors can help steer the target segments away from the online channels. Also, the outlet store is really only there to bring people to a physical place. They WILL get $1200 Italian shoes for $480, but they have to physically buy in a store. I'd assume this would be a haven for Ozb.

    3. Get rid of those heinous orange bags and give customers a feeling of satisfaction to have been a customer. I could go for days, but ideally, run each department like a boutique and spend some money to make some money. Offer customers some beverages during their shopping experience, or even tender business cards between sales consultant and customer (As two simple examples..). Heck, just look at Harrods… Half the people only go there simply for the food court, or to get a green bag. I'd love to see the numbers, but I'd say Harrod's makes more money selling their green bags and umbrella than Myer does selling their range of all bags and brollies and probably every other accessory combined. That's exactly what a premium brand can do for you….

    4. Customer service - If people are spending big bucks, provide value. I reckon 4/5 customers who went to a Myer store this year resented their experience due to crap or no customer service. Provide concierge and private accounts for HNWI. Arrange private shopping experiences… Why not… Lift!

    5. There's still a role to play with the online store. I'd probably see it looking like Harrods in that it feels like a catalogue of heaps of fashion and it's quite simple to see new styles. No real discounts, just availability to buy online and smart operations and logistics folks can get your product in a pretty quick time. The Myer online store at the moment is really set up to easily help people find discounts and complete their purchase. Not sure if that's going to be the best approach for profitability. It's kind of a band-aid on a gaping wound.

    Biggest threat to going lux in 2019 - Macro issues like inflation, no wage growth and general stress about our household debt. As a whole, people's willingness to buy lux goods is shrinking, but I still think that there is enough pie and enough established brand value and resources to take over a huge chunk of the luxury retail segment in AUS. Most data points to luxury goods surviving recessions because those who can afford it typically can still afford it during tougher times. So I guess they have that going for them too.

    Then again - What do I know!?

  • greatlamp on 10/10/2018 - 18:37
    +2

    Short sell ASX:MYR, and redevelop the stores into luxury apartments.

    • niknah on 11/10/2018 - 12:29

      Unfortunately, they don't own those stores. They're renting from people like Westfields.

  • solidussnake on 10/10/2018 - 18:51

    Do the opposite of my previous myer comment:

    +5 votes
    solidussnake on 06/10/2018 - 03:05
    Not Competitive enough
    Too late to the party for their online store
    Click and Collect takes hours
    Staff don't want to work or even talk to customers
    Too slow to clear old stock

  • richmond12 on 10/10/2018 - 19:04
    +4

    Nice try Mr Myer CEO

  • richmond12 on 10/10/2018 - 19:09
    +1

    On a serious note, they first need to find their gimmick to get customers wanting to atleast walk around. Its always so old and dated in there. I used work in the backroom and everything was old with stock lying around everywhere.

    Ikea has cheap hotdogs, cafe meatballs, and free childcare
    Bunnings has sausages

    I would presonally try have one myer have the cafe give out coffees for like $1 fully refunded if you bought something over $10. This cafe needs to be in the middle of the store. It prob run at a loss at a store but really coffee is kinda cheap wholesale wise and you already have the labour there.

  • timbo83 on 10/10/2018 - 20:52
    +2

    I agree.with most of the comments, and do struggle to see the tide changing even though they could overhaul their online platform and change dynamics of their physical stores.

    That said I've had great service the last few times in Myer across different stores.i also replaced something purchased online and thankfully found that a painless experience.

    It does seem that their POS is from the 60s, but the staff themselves were all great and went the extra mile (e.g. chasing down the last size of a pair of shoes bought online to arrange a swap).

  • Brick Tamland on 10/10/2018 - 21:07

    A huge part of that loss is an impairment write down of goodwill which is more of a 'paper' loss. If you disregard that impairment cost they still made a profit.

  • MessyG on 10/10/2018 - 22:02
    +2

    They need to modernise so badly. If I was CEO I would:

    1. Dramatically reduce the lines available across the board. There are too many brands in there, most of them junk. They need to go to a US department store to understand that more is not better. Reduce the stock, keep the good quality brands and allow them some breathing space on the floor to let them stand out. At the moment it's just piles of crap everywhere.

    2. Invest in decent customer service. They're not called Myer-bitches for nothing. The staff are either invisible or grumpy.

    3. Have multiple changerooms that are better signed and not fluro lit or lit with downlights. On a giant floor, finding the only changeroom is a PITA.

    The board needs to fly over to New York and visit Bloomingdales who've got it right.

  • [Deactivated] on 10/10/2018 - 22:04

    Departmental stores have never been "upmarket" to me.

    If it is not a recognized brand, its not a brand.

    Consolidate all their unknown clothes brand lines into one house brand and sell it as a classic brand, simple, comfortable and decent quality (like Zara etc). Have close "templates" for their sizing, so if a style is not available in the current shop, at least the sizing wouldn't be very far off it people wanted to buy online.

    Close down their unprofitable departments. Toys? Suitcases? Electronics/home appliances? Bedding? Pretty sure there are many other retailers that do those better. I think beds and linen are a bit grey. Beds take up huge floor spaces but it is weird to sell linen without beds (to me).

    I think the cosmetics are good. It is hard to find a retailer (I'm a guy though) that does so many high quality cosmetics in one place (the missus found it better than priceline, chemist warehouse etc which seem to be budget cosmetics retailers).

  • GourmetFoodie on 10/10/2018 - 22:06
    +1

    I'm their target customer. They lost me about 8 years ago to Selfridges, Harrods, Nordstrom, Neiman Marcus, Saks….

    What do these world class department store offer?

    The best customer service.
    The best brands, along with a bunch of interesting ones/exclusives that are harder to source elsewhere.
    Unique In store experiences.
    Genuine loyalty programs.
    A feeling of luxury, a beautiful shopping experience tailored to make me feel important.

    How should shopping at Myer be?

    It starts when you drive up to the entrance with valet parking so you don't have to fight for a car park ever. You are welcomed to the store by the concierge who asks what you are looking for today…

    I might be a young professional male who just got a big promotion…I'm clueless about fashion but I want to spend a bit of cash on looking good. Well the concierge will call a personal shopper and stylist for me who will help me choose as many (or as little) items as possible that make me look like the sharp businessman I am. There is never a hard sell. It's all about long term customer relationships. My personal shopper hands me their business card as they ring my new shirt and pants up at the till so I can request them next time I'm in store. Of course, my personal shopper gets paid a commission as part of their salary but it's paid on a factor of what I rate my experience via a survey sent by SMS to my phone as soon as I leave the store. It's about aligning the commission to customer satisfaction not just how much the customer buys.

    Before I leave though, maybe I'm a little hungry. So I head to the fourth floor bar and restaurant. Run by a Michelin star chef, I can grab a casual cocktail or if I'm looking to splurge, invite the girl I'm dating to join me for lunch. Turns out she was already at the store as she'd had brunch in the downstairs cafe with some girlfriends. It's where all the ladies who lunch go for a glass of champagne with some freshly baked pastries and smashed avocado on toast. Of course they serve salads and lobster chowder for lunch if you so desire. And afternoon tea is an affair as world class as scones at Claridges. Well, Rachel had already done some shopping, but of course didn't have to carry her bags. They were taken to concierge for her ready to be carried to her car when she so desired. She was excited because after brunch her and her friends had been invited to an exclusive "design your own fragrance" workshop and given their spend and loyalty status, were gifted showbags with a bunch of free cosmetic, frangrance and skincare samples.

    How could you not love shopping at Myer?!

  • Froot Loops on 10/10/2018 - 22:11

    Merge with David Jones. I can't seeing Myer making it another 24 months. The market is now to small for bricks and mortar upclass supermarkets (with online etc). They need to merge or shut up shop.

    • Xiaomi on 11/10/2018 - 01:06
      +1

      Why would a similar company actually making profit ($64m) merge with a business loosing $400m/year+

      You wouldn't be stupid enough

      • SlartiBartFozz on 16/10/2018 - 22:24

        Look at Bunnings, bought numerous Masters stores, when they went to the wall. There are a few examples of successful businesses buying up less profitable ones at a fire-sale price, then typically they dump under-performing staff, sell-off assets (property/stock/etc) and sell any branding/IP on the larger market.
        If you are doing well, you know the market pretty well, and you can exploit a weakened competitor when they're on their knees. Sometimes you might get bitten, it's a gamble.

        • Xiaomi on 16/10/2018 - 23:12

          That is completely different. Purchasing the stores of Masters was a strategic plan as they have the same requirements. Large amount of land, and a warehouse structure that had the fittings already for a reduced price.

          This was not a merge, that was not an agreement. That was taking advantage of a business that was suffocating, ran out of air and drowned.

          Master's should count themselves lucky Bunnings bought some of them otherwise they would have undoubably sold the fittings separately and lost a decent amount considering not many business want fitted out displays of kitchens, bathrooms, outdoor garden area with plumbing and automatic timing for agrogation, commercial fans for customer vantalisation, a car park already designed with trolley access, parking lines, consumer boards for advertising.

          There is no comparison with a merge Myer and DJ to Bunnings and Master's

  • Ozbargainlyf on 10/10/2018 - 22:13
    +2

    Overhaul the concessions so that brands like country road etc’s staff dont only tend to country road stuff. Theyve tried but its not working.

    Make private label stuff less shit.

  • aussieolfaction on 10/10/2018 - 22:29

    Too little, too late now.

  • SlartiBartFozz on 10/10/2018 - 22:58
    +1

    Rationalisation — reduce the number of under-performing stores, department stores don't have to be like a supermarket with one in every mall, focus on one for each region/district.

    Revitalisation — improve the shoppers experience with architectural reinvigoration, the Melbourne CBD store was somewhat extravagant, yet very desirable for the experience of shopping, unlike older Myer stores like Chadstone, Southland which are truly tired and uninviting with no natural light (most customers are there only passing through or because they have no alternative, not because they enjoy the visit); increase visible staffing, and perhaps 1-2 counters per floor, and all staff to carrying portable EFTPOS machines (stores like SuperAmart do a great job with this workflow), it's much easier to find staff and they don't spend most of their day behind a counter).

    Sustentation — few Myer stores have a refreshment element, Southland has a cafe to take a rest/caffeine break, this is a terrific way for couples/small groups to meet up or shop together and remain in the store instead of being enticed by cafes and resturants outside where they often don't return that day; this concept needs to be expanded and provide comfortable seating for people waiting for their partner/friends to shop, (ie. happy to linger longer). Regular daily sampling is a huge draw for customers in many chains (eg. Coles, Costco), there is every reason that should work as well inside Myer stores, staff interact with customers and engage them with new brands.

    Diversification — expand range of products, rather than a hundred of the same/same competing brands and products, to give consumers more tangible but easier choices; bespoke and exclusive brands (not merely 'exclusive products' which mean almost nothing to a customer), a core strategy that continues to work.

    Personalisation — traditional retail is changing and the key to successful stores is embracing the opportunities that provides, such as instant purchasing (eg. Amazon Go stores without checkouts); complimentary tailoring/wrapping/delivery; provide a range of customisation/personalisation on premium products.

    Data Leveraging — expand the use of machine learning and data analytics to evaluate and innovate different ranges, connect with customers and get to know what they like or don't.

    Sustainability — environmental awareness is now ubiquitous for most of the world, customers are looking for opportunities to make a difference, ecologically and ethically, this is an unexplored avenue in Myer's retail focus and should be a core part of redesign and reorganization.

    Competition — Myer's long strategy to launch with high-prices and discount heavily at saletime doesn't strengthen the brand/image; It's better to market & offer no-question-price-matching (instills customer confidence even if they never/rarely use that option); Furthermore, they should branch all discounting into seperate clearance stores — in the USA retail chains (eg. Nordstrom Rack/Neiman Marcus Last Call/Barneys Warehouse/Saks Fifth Avenue Off 5th), sell off-season products at ~70% discount, leaving more space for new stock in the parent stores, and attracting a growing market of potential buyers who would otherwise be shopping at Zara or Forever21; This includes mainly clothing and accessories but also linen, furniture, homewares, electrical and other product lines in many cases. The discount stores also trade very well online against competing online retailers.

  • nsm on 10/10/2018 - 23:47
    +1

    I frequently visit the Myers in Rundle Mall and TTP (Adelaide) and I've always had great service. I really like that you can buy online and return/exchange in-store, and their returns policy make deciding on purchases easy. For the most part I've been pretty happy with the deals I've gotten and would be sad to see them close.

  • Xiaomi on 11/10/2018 - 01:03
    +2

    I am tired of the Myer staff walking around like their entitled to work there. The staff need Myer, barely the other way around. Far too many of them have been there for a couple centuries, their way too comfortable and therefore, they do what they want…

    The younger ones are the ones running around after exchanging change-room sizes etc, the older generation simple toddle along with no rush to do anything, with the bare minimum knowledge of their computers and gas bag between each other while serving you. I've had a lady stop folding clothes, put them down turn around and start to have a conversation with her hands while her back was turned to me.

    Frankly, they deserve to go bankrupt with their pathetic f$%^ing service.

    • richmond12 on 11/10/2018 - 09:03
      +3

      The older ones are probably on dinosaur contracts hard to get rid of

      • Charity on 13/10/2018 - 18:58

        Only for spineless management. If they aren't doing the job, they get called to the office and fired. When they kick up a storm, and unions etc get involved… they get told again that they were fired for not doing the job. Case closed.

    • Shiny Mew on 12/10/2018 - 08:29

      Sounds like government departments in my experience.

  • Davo1111 on 11/10/2018 - 01:10

    improve online presence.
    Have daily deals.
    Improving sizing online
    improve stickers/labeling

  • Atazoth616 on 11/10/2018 - 01:14

    Play the lotto.

  • kaleidoscope on 11/10/2018 - 03:51

    “Went to the local Myer store to collect a few items bought online and as usual the customer service was atrocious, “

    Just out of curiosity which myer is this? My wife shops there at times and i do occasionally its always been good experience and good staff. Im talking these ones -> chadstone, high point, melb central.

    Anyway to the question how to make profitable? More focus on online shopping experience.

  • lollyball on 11/10/2018 - 08:55
    +1

    Go back in time and make sure internet doesn't happen. 💻🔫

  • LivinginEastwood on 11/10/2018 - 10:30
    +1

    Make all the employees there to impersonate the characters from the old british comedy show "are you being served" and reenact every each episodes everyday on the 1st floor.

    • greatlamp on 11/10/2018 - 14:28
      +1

      It would be considered too offensive for todays outrage obsessed society

  • tessel on 11/10/2018 - 10:52
    +2

    I'd lobby for 100% gst on imports.

    • Charity on 13/10/2018 - 02:42

      That you Gerry? :D

  • [Deactivated] on 11/10/2018 - 11:12
    +1

    Do people realise that the market capitalisation for Myer is well under their loss for the last financial year? They lost more than their own worth in one year.

    • niknah on 11/10/2018 - 12:50
      +1

      Sears, the 2nd largest department store(by revenue) in the USA will probably file for bankruptcy in the next week. They're now worth less than US$60m, been losing billions every year.

      • [Deactivated] on 11/10/2018 - 13:21

        You win. Sears junk bonds beat Myer junk bonds in junk. They lost a whole lot more than they are worth. Cute that the VP of corporate communications has jumped ship.

  • obium on 11/10/2018 - 11:30
    +4

    Used to work at Myer Sydney City.

    The worst part for me was the managers not doing their jobs. Was about 2-3 managers per floor, and another department manager per floor. Where were they all day? Nowhere. What did that mean for the staff? They hide in the back, they stand around and do nothing, they pretend you don't exist. If the floor managers actually did their job, instead of hiding in their staff room in "meetings" all day, might actually get some people doing their job.

    Because of that, the staff left on the floor are mainly concession/brand staff that are paid by the parent brand to be there, in a particular brand. They only know their brand and are actually not allowed to help out with other competitors. This leads to customers, unable to find a Myer staff member, heading towards the concession staff who can't assist them, pointing them in a general direction, pissing off the customers.

    I think the best sort of staff were specialist Myer staff. Working in menswear, the myer suiting staff (a bunch of grumpy looking old men) actually did their job well, heading around the store to different departments, finding you what you needed. Too bad there was only ever one of them on, making them overworked when even 2 people need suits.

    The whole place needs a major overhaul and to focus on service - the one advantage they can have over online competitors.

  • tessel on 11/10/2018 - 12:09
    +1

    CEO of Myers looking for ideas?

  • happirt on 11/10/2018 - 12:46

    nobody needs myer in 2018+

  • poochi on 11/10/2018 - 12:56

    They can start with stocking more Small and Medium sizes. I don't even bother going to sales because I know I'll just be wasting time rummaging through a pile of XL shirts.

    • MessyG on 11/10/2018 - 20:24

      So true, they're always out of the smaller sizes.

  • chillwok on 11/10/2018 - 13:07

    went into myers the other day. nothings changed from all the times i been there in the last few years. lack of staff and service. if there was staff around they were just fannying about. 1 person at a counter getting hammered so i was in a queue 10 mins before i could buy my item. they need a panic button or something that alerts the other staff in the store to help out. i'm happy with the items i bought but not so much with the service.

  • tap on 11/10/2018 - 14:05
    +3

    Start stocking Eneloops's, Xiaomi and Ozito.

  • misterpotatomato on 11/10/2018 - 15:54

    Realise that having such a massive store and floor stock is not going to work. Reduce stock down to 1/4 to 1/8 of original size.

    With the remaining space, sublease small areas to up and coming fashion labels, businesses wanting customer engagement (with things to sell etc). Maybe even a food stall or something?

    Charge subleasers reduced rent, or take a comission on what they sell.

    This would result in a cool "market feel" and poeple would be interested in the new selection of shops. Myer feels very stale as is.

    TL;DR stop trying to sell things directly, get little people in who pay their own staff etc, and just recover money on rent.

    Maybe a stupid idea but I would definitely visit a Myer like that. I would also rent a permanent stall in a place like that to meet with customers. For sure.

  • stinkydog on 11/10/2018 - 16:24
    +1

    Restructure to remove all executives, managers, and marketing staff, then ask OzBargainers how to run the business.

    • AppleLime on 11/10/2018 - 19:22

      Agreed. All the executives and managers are their down fall. Ask them if they can do price matching they will tell you no, you can buy from them then. They are so high and mighty attitude.

  • Cave Fire on 11/10/2018 - 17:10

    Ahem… The big question is does a department store format still work in 2018? Should Myer just focus on clothes? Are they trying to do everything in a time of price pressure and online convenience. Seems like a natural progression that they will be forced to cut the fat.

  • bmerigan on 11/10/2018 - 21:18
    +1

    Myer is my favourite store for clothes. Don't buy much else there though.

    I absolutely hate walking into the small stores and having a sales person all over me in seconds.
    There's enough at Myer that if I ever need one they're easy to find.
    I find it unfortunate that many stores expect their staff to engage the customer within 30 seconds.

  • belongsinforums on 11/10/2018 - 23:16

    Install xiaomi toilet seats in all stores

  • Lexan on 12/10/2018 - 00:20

    Myer should price match for their electronic items.

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