Coles hopes that by 2023, the supermarket will have 40 percent of its own branded products sold in stores (Daily Mail pictures).
According to the Daily Mail, Sinon Group (Wesfarmers) held a strategic development meeting yesterday, and its Coles supermarket manager revealed that the supermarket plans to expand its own brand over the next five years.
It is reported that Coles supermarket director Durken (John Durkan) revealed a plan at the Sinon Group's strategic development conference. Coles hopes that its own branded products will account for 40 percent of store sales by 2023.
The supermarket insists that the move will not limit the choice of customers, but will increase the choice of customers.
In recent years, Coles and Woolworths have been expanding their own brands as online retailers and Aldi, another big supermarket, have put a lot of competitive pressure on them. At present, Coles free brand sales account for more than 20% of the supermarket's overall sales. In the area of groceries, the sales of its own brand can reach more than 50% of the sales of fresh products.
Mr. Durken said Coles supermarkets need to ensure that they have products that are of the right quality and price, so they will not reduce the choice of consumers. The last thing a supermarket can do is force a customer to accept something they don't want.
It is reported that Coles supermarket's own brand expansion strategy will focus on practical products. The supermarket hopes to create a new value proposition.