They go by the slogan “my store” but now Myer has decided to go after bargain bin lovers with a new site.
The myfind.com website, operating out of China, which went live on 28 February, is seeking to offer “great value and one-off special buys for online shoppers,” a position that the retailer previously felt was denied to them by the government’s refusal to levy GST on goods sold by competing online rivals under $1000.
The store, which was never affiliated with heavily discounted goods, appears to be performing a U-turn in its sales strategy, facilitated by the online revolution.
Canberra’s refusal to budge on the issue led them to set up shop out of China.
“If we can’t beat them we will join them,” lamented Mr Bernie Brookes, Myer’s CEO last year.
“We just want a level playing field. We will take jobs offshore and we will ship product out of China through our internet site, it’s a bloody shame.”
At the moment, there are only two laptop devices on offer, an Acer Aspire 5742 as well as an eMachine, eME732Z , but say they are testing the waters before the discounting site is unleashed fully to consumers.
It is thus a safe bet to expect more discount devices will bolster its online offering in the coming weeks. The new site is a value-focused online business that is quite different to its existing department store offering, says the retailer.
The eMachine model is priced very competitively at $498 – over $100 cheaper than other online IT retailers including Techbuy.com or iTech.
The Acer 5742, priced at $697, matches, and in a few cases undercuts rivals, when compared on getprice.com.au, and could see the beginning of the high street retailer carving itself a bigger slice of the Oz electronics market if it maintains this huge price assault.
Indeed, the high street seller says the site will be a testing ground for selling new “low cost ” products and allows it to operate at a far lower cost out of China.
“Myfind.com presents Myer with the opportunity to test new merchandise and the potential for product and range extensions of our existing department store offering at a lower cost of doing business and working capital investment,” Jo Lynch, Myer’s Corporate Affairs, General Manager told Smarthouse.
“This is an exciting new business for Myer targeting a different, growing consumer segment,” she added.
Over coming weeks the myfind.com site will be fine-tuned before a formal launch supported by marketing activity to drive traffic to the site.
Myfind.com is run from offices in both Hong Kong and China.
The new site is offering delivery for just $10 and is facilitated within 3-5 days via its relationship with China Post in conjunction with Australia Post.