Chances are if you’re Australian, then you’re well aware Masters the previously Woolworths owned Bunnings competitor that failed is closing down December 11th, 2016.
Just like the Dick Smith “fire sale”, Masters are selling all of their stock at discounted prices. The issue here is the supposed discounts are a farce.
There are bargains to be had, but for the most part, a lot of the discounted goods are at most discounted 40%, to the contrary 60% and 70% that has been advertised.
A lot of the items that Masters sell/sold are considerably higher than Bunnings or purchasing online elsewhere. A lot of the discounts actually bring prices inline with Bunnings and other stores.
Some might argue that any discount is better than 0% discount, completely ignorant of the fact that Masters is more expensive for most things they sell/sold and therefore the discount only puts them on a level playing field with their competitors.
Apparently the increased floor space of Masters stores meant they had to sell more and therefore that was the reason they failed, the real reason is Masters could never compete with Bunnings or other competitors on price.
RIP Masters, price always wins.