The Market to be sold off by The Warehouse Group after spending at least $12M developing it

Forums › Off topic › The Market to be sold off by The Warehouse Group after spending at least $12M developing it

turtleattacks

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#312136 20-Mar-2024 10:16

Interesting to see that they couldn't make this work.

I think the idea isn't bad but the execution is awful. Mighty Ape could make it work and I think Ferrit was even alive for longer.

https://www.nzherald.co.nz/business/the-warehouse-group-makes-237m-net-loss-will-sell-online-platform-themarket/GMHRNFRZWJHUTH4ZBTFNDV3XCM/

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#3208449 20-Mar-2024 10:27

The market hasn't made any sense for a while, it's original purpose was bringing everything together but now they do that in the warehouse app directly. They blurred the lines between the warehouse and the market so much that I don't know why both are needed anymore.

Personal preference is I think they've butchered the warehouse app doing this and should have left market place items on the market and linked to the site for more product options.

Linux

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#3208451 20-Mar-2024 10:30

The Market was an awful site - looked at it once and never again

heavenlywild

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#3208452 20-Mar-2024 10:31

What a mess of a website and adds no value. Why not just by off directly from the seller's website, or via TradeMe?

The shipping costs are hideous.

floydbloke

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#3208480 20-Mar-2024 11:50

And let's not forget their after-sales support fiasco.

Sometimes I use big words I don't always fully understand in an effort to make myself sound more photosynthesis.

cddt

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#3208484 20-Mar-2024 11:56

It was also never clear whether you were covered under CGA when the seller was offshore and shipping to NZ.

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Handsomedan

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#3208500 20-Mar-2024 12:11

Originally tried to be Amazon. In the face of the big A coming to AU, they thougt they could head off the inevitable by putting up their own shonky version locally.

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turtleattacks

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#3208502 20-Mar-2024 12:12

I would be genuinely know how much they paid for themarket.com domain name.

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MikeAqua

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#3208505 20-Mar-2024 12:18

I looked at it once. Everything I looked at, I could get cheaper elsewhere. Never went back.

Mike

marpada

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#3208525 20-Mar-2024 12:48

I'm not sure if the poor results can be attributed to poor management or just the economic situation in the country and cost of living crisis. They didn't even have to face strong competitors like Amazon or eBay. People now think twice before getting the latest iPhone every year when rent or mortgage payments keep going up and your job can be terminated at any time.

johno1234

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#3208582 20-Mar-2024 13:13

Were they trying to compete with TM? Wouldn't be the first to try and fail at that...

Handsomedan

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#3208591 20-Mar-2024 13:58

johno1234:

Were they trying to compete with TM? Wouldn't be the first to try and fail at that...

No, they were trying to compete with/head off competition from Amazon.

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heavenlywild

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#3208594 20-Mar-2024 14:00

I felt the Market started off with a hiss and a roar then after what seemed like 6 months they went quiet and there were very little fanfare or promotions. Felt like they gave up before it even had a chance to grow.

heavenlywild

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#3208595 20-Mar-2024 14:01

Handsomedan:

johno1234:

Were they trying to compete with TM? Wouldn't be the first to try and fail at that...

No, they were trying to compete with/head off competition from Amazon.

That's like a corner dairy taking on PaknSave or Woolworths 😅

Handsomedan

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#3208603 20-Mar-2024 14:12

heavenlywild:

Handsomedan:

No, they were trying to compete with/head off competition from Amazon.

That's like a corner dairy taking on PaknSave or Woolworths 😅

I thought that when I hear someone from TWG say it.

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marpada

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#3208607 20-Mar-2024 14:16

Handsomedan:

johno1234:

Were they trying to compete with TM? Wouldn't be the first to try and fail at that...

No, they were trying to compete with/head off competition from Amazon.

Probably they just wanted to increase margins by closing physical stores and cutting-down staff.

In Australia the Wesfarmers group stores (Kmart, Target, Bunnings, OfficeWorks) have a OnePass subscription so you get free shipping and optionally Disney+, similar to Amazon Plus. The free shipping is just too addictive, and once you get your "free-shipping" subscription you cannot avoid buying stuff you don't need.

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