Woolworths’ new convenience store concept in Sydney has been met with stiff opposition from local small business owners.
The new stores in Sydney are selling barista-made coffee and ready-made meals, amid claims they are edging into a market typically held by local stores.
One particular store owner in Kirribilli has refused to sign the renewal of their lease. While loyal customers and other small businesses have pledged their support, he remains pessimistic and believes cheap prices will win in the long run.
What does this mean?
This could be an emerging trend for large retailers to change their traditional store formats and offerings to fit into inner-city locations as
Why should I care?
Bricks and mortar stores could continue to feel the squeeze by increased competition from bigger retailers.
National retailers such as Woolworths are becoming more adept at modifying there stores and offerings to consumer behaviours. Their buying power and sheer size have the potential to edge out local retailers.