As most people already know Woolworths, one of the UK's most traditional stores, went into administration at the end of 2008 due to a large volume of debts. Thousands of people lost there jobs and the hundreds of stores throughout Britain closed their doors to the public; it was really an end to an era for the UK retail sector.
But as I have previously stated Woolworths failed because of one reason only, they did not keep up to date with the latest trends and the competition was just a lot fiercer than they were. They also suffered because they did not make use of the online industry effectively. We all know that the online shopping sector is growing rapidly, so any business not actively promoting themselves online will miss out.
But things look to be turning around for the brand household name as it has just been purchased by Shop Direct who own Littlewoods and are one of the UK's biggest internet and home shopping retailers. They plan to launch Woolworths only online in the summer.
So is this a good move by Shop Direct? In my opinion I think that it is great news, simply because they already have a big user base themselves and with the purchase of a trusted brand like Woolworths, so they can't go wrong. Ok so they have there work cut out, to turn the name around and build an expertise for a specific niche, but it is definitely something that can be achieved. And 2009 will hopefully be the year that Woolworths reinvents itself and dominates the online competition.
Another aspect that the Woolworths brand need to get right is too market there website effectively. The internet is a completely different sector and they need to get the right SEO Company in place to secure the best coverage in search engines. They should also look at launching some viral campaigns.
Woolworths who were famous for their pick'n'mix confectionery will still be keeping some aspects of the tradition. All I do know is that there is already a lot of talk about success. More than 20,000 customers had registered with the site after the news hit.
Although Shop Direct did cut around 1,150 jobs that was only due down to the fact that they were closing a call centre to transforms itself into a primarily internet-based retailer. Well it is good to hear one company are getting things right.
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