Megamart
Encyclopedia
Megamart was an Australian chain of stores owned by Coles Group
Coles Group
Coles Group Limited was an Australian public company that operated numerous retail chains. It was Australia's second-largest retailer, behind Woolworths Limited...

 (then Coles Myer) which sold electrical and furniture items. It was a sub-store of department store chain Myer
Myer
Myer is Australia's largest department store chain, retailing a broad range of merchandise including women's, men's and children's clothing, footwear and accessories; cosmetics and fragrance; homewares; electrical; furniture and bedding; toys; books and stationery; food and confectionery; and...

, so it was also known as Myer Megamart or Megamart by Myer. Some Megamarts were bigger than whole Myer stores alone.

According to Business reporter Stephen McMahon, the reason Megamart closed was that its "...small footprint meant it struggled to compete with rivals such as Harvey Norman
Harvey Norman
Harvey Norman is a large Australian-based retailer of electrical, computer, furniture, entertainment and bedding goods. It is effectively a franchise and the main brand owned by Harvey Norman Holdings Limited...

 and Dick Smith
Dick Smith Electronics
Dick Smith is an international electronics retailer, founded in 1968 by Richard "Dick" Smith. Today, it is a subsidiary of Woolworths Limited, incorporating Tandy, and the remaining Dick Smith Powerhouse Stores...

 - while cannibalising Myer's own sales."http://www.smh.com.au/news/business/coles-myer-kills-off-megamart/2005/11/09/1131407699632.html

History

  • 1998: Myer open the first Megamart store in Coorparoo, Queensland
    Coorparoo, Queensland
    Coorparoo is a southern suburb of Brisbane, Queensland, Australia, located approximately four kilometres from the city. Surrounding suburbs include Camp Hill, Holland Park, Greenslopes, East Brisbane, Norman Park and Seven Hills.-Aboriginal history:...

    .
  • 2001: Myer announces plans to expand the Megamart chain of furniture
    Furniture
    Furniture is the mass noun for the movable objects intended to support various human activities such as seating and sleeping in beds, to hold objects at a convenient height for work using horizontal surfaces above the ground, or to store things...

     and electrical stores.
  • 2005: Coles Myer announces plans to "divest" Megamart due to poor performance. All stores stopped trading on 13 November. Out of the nine stores, six were bought out by Harvey Norman
    Harvey Norman
    Harvey Norman is a large Australian-based retailer of electrical, computer, furniture, entertainment and bedding goods. It is effectively a franchise and the main brand owned by Harvey Norman Holdings Limited...

    while the remaining three were bought by Clive Peeters.

External links

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