Masters....GONE!

Discussion in 'Property Market Economics' started by Bayview, 18th Jan, 2016.

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  1. mrdobalina

    mrdobalina Well-Known Member

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    When Woolworths first launched Masters, they named the project "Oxygen". The aim was to suffocate bunnings and deprive Wesfarmers management of oxygen, so that they would take their eyes off Coles, which was the main play.

    It had the completely opposite effect, and deprived Woolworths management of oxygen.
     
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  2. Coota9

    Coota9 Well-Known Member

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    Bunnings to expand to UK
     
  3. Peter_Tersteeg

    Peter_Tersteeg Mortgage Broker Business Member

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    I was thinking that there might be some very large wearhouse buildings in prime locations available at bargain prices. Not that most private investors could afford this sort of thing at even 40% of their actual value.

    Closing down sales? That'll probably happen at some point. Helpful if you're renovating, but this is small scale stuff.

    Coles shares are probably where there's some opportunities for most people, I don't understand enough about this to be comfortable with it though.
     
  4. Phantom

    Phantom Well-Known Member

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    Nope. ....they went up...Masters was a sinking ship and investors knew it. As soon as they made the announcement, shares went up 5.1%.
     
  5. THX

    THX Well-Known Member

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    They screwed up from day one; big luxury air conditioned warehouses etc, it gave the impression they were high end and thus expensive. Not the place you would go to buy an ordinary hammer.
     
  6. Brian84

    Brian84 Well-Known Member

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    I heard that mitre 10 and home hardware I think it was were going to merge and take over the masters sites.
     
  7. Bayview

    Bayview Well-Known Member

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    Ah; yes; makes sense - get rid of the cashflow drain...investors happy.
     
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  8. Spanna

    Spanna Well-Known Member

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    Bunnings where still consistantly cheaper than masters for most things i went looking for!
     
  9. Bayview

    Bayview Well-Known Member

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    I did hear a description of Masters as "upscale version of Bunnings".

    This would be part of the reason for higher prices in a number of items no doubt.
     
  10. neK

    neK Well-Known Member

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    Upscale without the expertise.

    At least with Mitre10, while they were more expensive, I ask someone a question and they would take me to item and suggest the other items i needed. Much prefer shopping there, too bad they close down and get demolished for OTP apartments :(

    Masters was weird, too many random items being sold. Washing Machines, Fridges, Hardware... wtf?
     
  11. ross100

    ross100 Well-Known Member

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    so no competition, bunnings prices would go up
     
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  12. Bayview

    Bayview Well-Known Member

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    Trying to emulate Costco?
     
  13. gman65

    gman65 Well-Known Member

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    There are only 10 stores in SEQ so probably not much of a change here..

    Without competition the already high prices of Bunnings will go up. Already can get cheaper prices on many things at the independent specialists.
     
  14. Redwood

    Redwood Well-Known Member

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    Ok - Masters decided to plump their stores across from a Bunnings.

    For the last 10-15 years, when we need something we say go to bunnings (or mitre 10 in regional areas).

    Does anyone actually prefer Masters over Bunnings? I have only been to Masters once, and always go Bunnings. Anyone go to Masters first?
     
  15. Perthguy

    Perthguy Well-Known Member

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    When I was renovating a house I found a lot more at Masters that I wanted than at Bunnings and at better prices. I describe Masters as "like Bunnings except they have what you want" :p
     
  16. Perthguy

    Perthguy Well-Known Member

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    In Perth my local Masters is a lot better than my local Bunnings but it does depend on what you are looking for. In my last reno I would have spent about 5 times more at Masters than at Bunnings. Masters had a better range at better prices for reno items for my property.
     
  17. joel

    joel Well-Known Member

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    Hmm I'm going to really miss that one Masters store in South Australia.. Now where will I go to get poor advice from teenagers
     
  18. BKRinvesting

    BKRinvesting Well-Known Member

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    I worked for Bunnings for 6 years part time while at school.
    I remember in the induction that Bunnings marketing was specifically designed to look cheaper to give the 'cheapest price, low overhead' feel. I.e. mascot was hand drawn, brochures on offwhite paper, etc. They did however openly admit that this marketing strategy was actually more expensive than had they just used standard paper and graphics, etc.

    I won't miss masters, but if my local Home Hardware goes (Katoomba) I'll be a bit screwed until the planned Bunnings decides to turn up.
     
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  19. Tools

    Tools Well-Known Member

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    Sad to see them go. I prefer Masters to Bunnings but their customer service is poor, not that it is anything to speak about in the big green shed either. Masters give me 5% discount on everything in the store whereas Bunnos have some random discounting structure and it doesn't cover everything in store.

    Tools
     
  20. D.T.

    D.T. Specialist Property Manager Business Member

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    Adelaide is only losing one Masters. For once, we out perform you guys :D:p
     
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