Australian Retail Brand Coles' Marketing Mix Explained
When we think of the leading names of the retail industries of Australia, then Coles is one of the names which strikes every mind. The supermarket was found in the year 1914 and has been operating since then successfully. It is a subsidiary of Wesfarmers and is known for its work as an Australian supermarket, retail and consumer services chain. It is a company with its headquarter in Melbourne and has been operating in Collingwood, Melbourne. The success of the supermarket has led the company to operate 807 supermarkets, 690 convenience outlets, 865 liquor stores, 89 hotels through Australia and include many re-branded supermarkets such as BI-LO supermarkets. The company deals with a broad spectrum of products including fresh food to groceries, liquor, fuel and general merchandise. Unlike its competitors, the founder George Coles has added another feature of dealing in the financial services.
The medium of Coles’ functionality
The supermarket provides services to the customers available offline and online both with the help of the large national store network.
What are the components of the financial service?
The brand offers the facility of the car, home, credit cards, and insurance of life and landlord. The astonishing thing is that the number of credit and debit cards has reached billions. The same stands with the insurance policyholders.
Every city of Australia has a subsidiary of the brand. The workforce of the brand has crossed the level of 1 million. If we combine the workforce of the two legendary supermarkets of the continent, then it counts to more than 80% of its total market.
The marketing mix of any brand is incomplete without the analysis of the four important features, which are Product, Place, Price and Promotion.
The brand has been awarded more than 500 prizes in the last four years for the quality and the taste of the large range of products it offers. Be it fresh food, or the general merchandise, the customers, find everything at the platform. The products that have outshined the competition are ice creams, bread rolls, and cakes. The main aim of the company is to focus on building long-term relationships with its suppliers, and encouraging them.
Be it the western part of the continent, Geraldton or any other region; the brand supplies its products and services at all the places. The average customer transactions of each week are 21 million, and it has been made possible by the online platforms and store network. The brand has imprinted its footprint all over the nation with a huge number of outlets as mentioned above.
The retail industry is mainly linked with the ways in which the company is able to manage the prices. Coles Supermarket has been leading in the work by both improving the quality and dropping the prices of the products. This policy has taken it into the race of being the most customer-friendly brands.
The profit has risen by 4.1% by the year 2016. The sales of food and liquor have risen by 5.1% and 24.1% is the profit raised in the online sales of the brand.
The best retail marketer of Australia is Coles and its promotion strategy are one of the reasons for this. It also uses the traditional channels for marketing. It began with writing the prices on the items while packaging. Another source of promotion of the brand has been the efficient use of the social media platforms. Gradually, the company has reached to more than 37k Twitter followers. If we talk about Facebook, then 1 million is the number of followers.