Peter Overton: Tough sales environment for retailers is creating a new opportunities for shoppers to places you might not normally expect.
Costco, most well-know for groceries and household goods, has become a fashion destination.
Ross Greenwood: Shopping for clothes at Costco comes with one big tip…
Christi Russell: Buy two, we have an excellent refund policy were you can bring it back.
Ross: The reason? There are no change rooms. There are no mirrors – you’re on your own.
But more people will shop there for clothing. Big name brands are turning up as department stores get tougher.
Steven Kulmar: I think there’s a lot of desperate retailers and, indeed, a lot of desperate national brands.
Ross: Sportscraft, established in 1914, is one of them.
Voiceover: Sportscraft become known as the great Australian classic.
Ross: Its traditionally relied on the big department stores but now, selected ranges are in Costco.
Patrick Noone: We’ve seen a number of new brands come in and do business with in, Sportscraft is one
Mark Owens: The average saving you find would be 40 to 60 per cent of the marketplace.
Ross: The reason the savings are so big is Costco buys just one or two lines but they buy it by the pallet load.
Christi: We buy one product and go big on it.
Ross: It’s not the only big Aussie brand making the shift; Bettina Liano also has lines in Costco looking for volume.
International brands including Levi, Adidas, DKNY, Calvin Klein and Tommy Hilfiger have been there since the outset.
Steven: Pretty much selling in Costco, the brands all of a sudden shift their bias around from quality to price.
Ross: With no mirrors and no change rooms, its pretty obvious Costco is not a clothing store – so don’t get changed in the aisle.
But the fact of the matter is, lots of people will try to grab a bargain with these branded goods as they go through the stores for what they are truly after.
Mark: I like to think people come in here for the fashion but more than likely they are coming here for their food.
Ross: Ross Greenwood, Nine News.
Interviewed Gerry Harvey, Executive Chairman, Harvey Norman (ASX:HVN) titled ” Is Amazon the greatest fraud in the world? .”
Interviewed Gerry Harvey, Executive Chairman, Harvey Norman (ASX:HVN) titled ” Harvey goes to war with Amazon .”