Tag: Woolworths

Australia – Woolworths Group plans to close the MyDeal customer website by 30 September, shifting its retail marketplace strategy to focus on BIG W Market and Everyday Market on woolworths.com.au. In a recent disclosure at ASX, the company said that the move is aimed at expanding product range for Woolworths and BIG W customers while consolidating traffic growth on its core digital platforms.

Woolworths Group CEO Amanda Bardwell said the decision followed a strategic review of the company’s portfolio. “In February we said that we would assess the shape of the Group portfolio to address areas where there was not a clear path to profitability or the prospect of a reasonable return on capital,” she said.

MyDeal, which Woolworths acquired a majority stake in in 2022, has provided marketplace technology and capabilities through the Group’s Woolworths MarketPlus platform, supporting rapid gross merchandise value (GMV) growth. 

However, Woolworths said the competitive environment and better economics of marketplaces integrated directly into retail brands led to the decision to shut down the MyDeal site. The closure is expected to reduce operating losses in Woolworths MarketPlus once finalised.

Despite closing the customer-facing website, Woolworths MarketPlus will continue to use the MyDeal technology platform and seller relationships to support BIG W Market and Everyday Market. Woolworths also thanked MyDeal CEO Sean Senvirtne and his team for their contributions to establishing MarketPlus.

The company estimates the cash cost of the closure will be between $90 million and $100 million, covering payments to outside investors, redundancies, and other expenses. In addition, non-cash costs, primarily due to impairments of MyDeal assets, are expected to be around $45 million. Woolworths said it will provide an update on these one-off costs with its full-year results in August.

Sydney, Australia – Woolworths@Dentsu, dentsu’s dedicated agency for Australian supermarket giant Woolworths, has announced today the appointment of Matt Benning, formerly of AKQA Media, as its new head of digital & performance.

Most recently at AKQA Media, Benning was the Sydney team’s head of digital. He spent close to 15 years at WPP with notable roles over this period as media lead on Vodafone for Wavemaker. He previously worked with MEC in the UK as global digital director on Vodafone and Visa Europe. In this position, he led the digital strategy for Visa across Europe, activating their Olympics and Football World Cup sponsorships.

Barbara Messitt, the agency’s managing director, commented, “I am so pleased that Matt is joining our team. With his wealth of experience and passion for all things digital, I am certain he will further drive our digital transformation journey with the brands. The team here are all very excited to start working with him.”

Gayle While, chief digital officer of dentsu Media, added, “We’re delighted to be welcoming Matt into the Woolworths team. He’s a passionate and highly respected digital leader whose expertise will be invaluable in supporting our clients to respond to today’s fast changing market with effective strategies and innovative solutions.”

Benning will be based in Sydney and the agency said his new role will include working with some of Australia’s leading brands in retail amid the growth in today’s digital, data, and technology solutions.

“I am thrilled to be joining the talented Woolworths team and to work alongside some of Australia’s most trusted brands. I am excited to continue the development of our digital capabilities as we navigate the evolving digital landscape,” commented Benning.

Benning will officially join the agency on 29 November.