WEBVTT - Reissue: Costco, then Ikea: What could be the next megastore and why do we care? 0:00:19.059 --> 0:00:22.139 Kyota at Chelsea Daniels here, host of the Front Page. 0:00:22.379 --> 0:00:25.259 We're taking away breakover summer, but to help build the gap, 0:00:25.579 --> 0:00:28.659 we're re issuing some of our most significant episodes of 0:00:28.739 --> 0:00:32.019 twenty twenty five on behalf of the Front Page team. 0:00:32.138 --> 0:00:34.619 Thanks for listening and we look forward to being back 0:00:34.659 --> 0:00:44.019 with you on January twelfth, twenty twenty six. Kyota, I'm 0:00:44.099 --> 0:00:48.819 Chelsea Daniels and this is the Front Page, a daily podcast. 0:00:48.379 --> 0:00:50.299 Presented by the New Zealand Herald. 0:00:54.019 --> 0:00:58.379 Kiwis will finally get to experience the labyrinth that is 0:00:58.539 --> 0:01:03.819 an Ikea store from December fourth. The New Sylvia Parks 0:01:03.939 --> 0:01:07.099 site in Auckland is one of the company's largest in 0:01:07.139 --> 0:01:12.139 the Southern Hemisphere, about the size of three rugby fields. 0:01:12.378 --> 0:01:16.098 There'll be thousands of products available online and in store, 0:01:16.378 --> 0:01:20.219 and yes, they will be serving up their famous Swedish 0:01:20.299 --> 0:01:24.499 meatballs in a four hundred and twenty six seat cafeteria. 0:01:25.219 --> 0:01:29.619 So why do we get so excited about international brands 0:01:29.739 --> 0:01:31.699 setting up on our shores. 0:01:31.658 --> 0:01:35.019 And is there enough appetite for Ikea. 0:01:34.779 --> 0:01:38.939 And their meatballs to succeed where others haven't? Today on 0:01:38.979 --> 0:01:43.298 the Front Page, Quantum Jump, CEO and marketing expert Ben 0:01:43.419 --> 0:01:47.339 Gooddal is with us to explain the hype around one 0:01:47.379 --> 0:01:56.459 of the world's leading retailers. First off, Ben, what is 0:01:56.538 --> 0:02:00.979 the significance of Ikea finally coming to New Zealand. 0:02:01.299 --> 0:02:02.939 I mean, I think there's a number of factors here. 0:02:03.139 --> 0:02:08.018 It is a major, major retail brand globally and one 0:02:08.019 --> 0:02:11.698 of Sweden's great exports. I think to a certain extent, 0:02:11.939 --> 0:02:16.379 the sheer fact that so many Kiwis already have Ica 0:02:16.499 --> 0:02:19.339 products in their homes, which they may be brought from 0:02:19.339 --> 0:02:21.899 overseas or people are given to them, or they've bordered in. 0:02:22.538 --> 0:02:25.419 And so it's a brand that almost feels like it's 0:02:25.459 --> 0:02:30.099 been here for a while anyway, but but but actually 0:02:30.379 --> 0:02:35.699 planting itself. And it's very grounding for an international brand 0:02:35.739 --> 0:02:38.099 like that to arrive in New Zealand, not unlike Costcow 0:02:38.179 --> 0:02:40.099 a couple of years ago. I think we go, Wow, 0:02:40.179 --> 0:02:42.939 you know, we're finally there as a nation. We've got 0:02:43.019 --> 0:02:45.859 an ike We've a Costco, We've got Nah and m 0:02:46.219 --> 0:02:49.699 Sephora Victoria's Secret out of the airport. You know, brands 0:02:49.779 --> 0:02:53.819 which are you know, living in a country and far 0:02:53.939 --> 0:02:56.699 flung in the furthest away part of the world. In fact, 0:02:56.659 --> 0:03:00.219 I've read today that we are the Ikea store in 0:03:00.258 --> 0:03:04.539 Auckland will be the servist away from Sweden store that 0:03:04.619 --> 0:03:08.739 they have. You know, it can be something when when 0:03:08.819 --> 0:03:12.178 these brands turn up and they've got to us. 0:03:12.219 --> 0:03:14.018 In terms of Ikea. 0:03:14.258 --> 0:03:18.579 What makes it like I suppose the international juggernaut that 0:03:18.659 --> 0:03:19.379 it is is. 0:03:20.698 --> 0:03:24.379 Firstly, I mean, the product is amazing, you know, it's there. 0:03:24.418 --> 0:03:29.419 They're they're innovative, They're they're they're sustainable or as sustainable 0:03:29.459 --> 0:03:31.779 as you can be within with any category like that, 0:03:31.819 --> 0:03:35.939 and they're pushing to be more sustainable forever. They their 0:03:35.979 --> 0:03:41.579 focus on design is is fundamental to their success, you know. 0:03:41.699 --> 0:03:46.179 Be I mean I remember as a as as as 0:03:46.299 --> 0:03:48.338 you know, probably not long after a left stool, going 0:03:48.339 --> 0:03:50.898 to be opening of a first Ikea in London and 0:03:52.219 --> 0:03:54.339 queuing up that day to get in, and I didn't 0:03:54.339 --> 0:03:57.099 even really know what Ikea was something to do on 0:03:57.139 --> 0:04:00.859 a on a Sunday, but but being bowled over by 0:04:01.139 --> 0:04:05.819 by the design, you know, the that simple Swedish aesthetic 0:04:06.939 --> 0:04:11.659 and you know it really it's not just furniture. Albeit 0:04:11.779 --> 0:04:14.779 I also have cursed and I once foolishly brought a 0:04:14.859 --> 0:04:19.219 foot on from Ikea, and I'm sure. If any anyone 0:04:19.299 --> 0:04:23.139 watching this, imagine, you know, flat pack assembling of futon 0:04:24.179 --> 0:04:26.499 in a time where I did not own a power drool, 0:04:26.579 --> 0:04:29.899 so I had to hand handstrew it every last True, 0:04:29.979 --> 0:04:33.659 it was the I have blisters and I was not 0:04:33.699 --> 0:04:37.059 a happy person. But the futon was sensational. 0:04:37.619 --> 0:04:39.779 Well that's part of the fun of it, isn't it. 0:04:39.779 --> 0:04:40.579 The flat pack? 0:04:41.179 --> 0:04:44.219 I mean I say fun in quotation marks because I 0:04:44.299 --> 0:04:45.899 personally don't think it's fun. 0:04:45.939 --> 0:04:48.379 But in terms of I mean you mentioned London in 0:04:48.459 --> 0:04:50.459 the What Where When? What would that have been? 0:04:50.699 --> 0:04:52.579 That was nineteen eighty eight? Yeah? 0:04:52.779 --> 0:04:57.099 Was it the same kind of huge sensation? 0:04:57.299 --> 0:04:59.419 It was even then than it is now because in 0:04:59.419 --> 0:05:01.739 the eighties you didn't have social media or the Internet 0:05:01.739 --> 0:05:02.579 and things like that. 0:05:03.499 --> 0:05:06.099 Yeah, it's funny. I was reflecting on that the other day. 0:05:06.379 --> 0:05:09.739 I mean, it's almost I don't know I remember it. 0:05:09.939 --> 0:05:11.939 I don't know why I was there. I don't know 0:05:12.019 --> 0:05:13.939 how I knew it was going on. Maybe there was 0:05:13.979 --> 0:05:16.739 an advert in the Evening Standard. It wasn't far from 0:05:16.779 --> 0:05:20.619 my flat, but it I remember going to work it 0:05:21.179 --> 0:05:23.819 the next day and wherever people were talking about it, 0:05:24.819 --> 0:05:26.699 and so I guess it was. It must have been 0:05:26.699 --> 0:05:28.459 on the news. It must have been on the radio. 0:05:29.699 --> 0:05:31.859 Maybe there was a piece of it in the Standard 0:05:31.899 --> 0:05:33.659 in the morning when people are getting on the tube 0:05:33.699 --> 0:05:37.539 with their newspaper. But you're right. I mean, I think 0:05:37.579 --> 0:05:40.059 it's funny now that having lived now with social media 0:05:40.139 --> 0:05:46.219 for ten fifteen years, we almost forgotten how did these 0:05:46.259 --> 0:05:50.259 things get shared and amplified and so on before all 0:05:50.299 --> 0:05:52.419 that happened. But I guess we just found other ways. 0:05:52.419 --> 0:05:54.259 I mean, apartment the meals, people talk to each other 0:05:54.299 --> 0:05:54.779 about it. 0:05:54.979 --> 0:05:57.899 Do you think Ikea will have to adapt to the 0:05:57.979 --> 0:06:00.819 key We market or is Ikea just Ikea? 0:06:01.619 --> 0:06:05.659 Well, I think initially, I mean they are just Ikea 0:06:05.819 --> 0:06:08.899 their product range. They're not going to develop products just 0:06:08.979 --> 0:06:11.419 for this market and all. You know, I'm not quite 0:06:11.419 --> 0:06:16.259 sure what products we were uniquely we would uniquely need. 0:06:16.339 --> 0:06:20.619 I mean, we're a lot different rest of the world. However, 0:06:20.699 --> 0:06:23.779 they have done a lot of groundwork, which they've talked 0:06:23.779 --> 0:06:26.659 about some of their media relations around going into Kiwi 0:06:26.779 --> 0:06:31.699 homes and understanding what how key Wes use products, what 0:06:32.019 --> 0:06:35.099 they need. I think probably understanding things like how key 0:06:35.139 --> 0:06:39.379 We use their garages, as you know, as well as 0:06:40.299 --> 0:06:42.859 their outdoors and so on. So I think probably it 0:06:42.859 --> 0:06:45.499 will be more they'll show up with the ranging because 0:06:45.539 --> 0:06:49.619 they they'll have a vast array of ranges, but not 0:06:49.739 --> 0:06:52.939 everything will be as appropriate in Autland as it might 0:06:53.019 --> 0:06:57.659 be in Tokyo or New York or whatever. So I think, yeah, 0:06:57.659 --> 0:07:02.539 we'll get a profile which will be developed deemed appropriate 0:07:02.579 --> 0:07:03.819 based on those insights. 0:07:04.299 --> 0:07:06.619 What do you make of the main freight partnership? 0:07:06.739 --> 0:07:09.459 Is that something quite unique for those who don't know 0:07:09.499 --> 0:07:12.059 they're going to be doing this main freight to home 0:07:12.179 --> 0:07:15.899 service and the offer will take heavier items into people's 0:07:15.979 --> 0:07:20.339 homes if that was their preferred option. That's quite revolutionary 0:07:20.339 --> 0:07:23.499 because I always fret when I buy something or a 0:07:23.579 --> 0:07:25.939 piece of furniture thinking am I going to fit it 0:07:25.979 --> 0:07:26.619 into my car? 0:07:26.779 --> 0:07:28.739 Or am I going to be able to carry this 0:07:28.859 --> 0:07:31.019 up my drive? So that's quite a unique. 0:07:31.659 --> 0:07:34.059 Having a main freight, you know, a couple of them 0:07:34.299 --> 0:07:35.619 actually lug it into. 0:07:35.419 --> 0:07:37.579 Your house is quite special. 0:07:37.619 --> 0:07:41.459 I think, yeah, well they are operating distribution in some 0:07:41.539 --> 0:07:46.699 other markets, especially where they don't have those stores. I mean, 0:07:46.739 --> 0:07:52.179 it's certainly a very smart, strong play for this market. 0:07:52.259 --> 0:07:55.419 You know, suddenly you know they've only got one store, 0:07:55.499 --> 0:07:58.339 but it's almost like have they got twenty nine stores, 0:07:58.339 --> 0:08:02.059 and we're also living in an evolved age of e commerce. 0:08:03.419 --> 0:08:07.419 People's happiness buying or line ever since Covid was a 0:08:07.459 --> 0:08:10.099 bit of a game changer for online buying in New Zealand, 0:08:10.099 --> 0:08:12.939 which is has always been a little bit behind the 0:08:12.979 --> 0:08:17.059 rest of the Western world in terms of uptake on 0:08:17.499 --> 0:08:21.019 e commerce. But it kind of makes sense for Ikea, 0:08:21.139 --> 0:08:25.739 especially once people have some familiarity with products. You know, 0:08:25.819 --> 0:08:28.059 if you're if you're living down country and your your 0:08:28.099 --> 0:08:30.299 friend is it shows you, shows you their food on 0:08:31.059 --> 0:08:33.218 which they're really delighted with, and you go, well, I'll 0:08:33.259 --> 0:08:35.299 have one of those, you know you if you just 0:08:35.458 --> 0:08:37.019 order one, then you can pick it up from your 0:08:37.059 --> 0:08:39.539 main freight delivery, so it's all to have it delivered 0:08:39.578 --> 0:08:42.218 into the house. So I think it's going to allow 0:08:42.299 --> 0:08:46.659 their distribution to be really powerful, and for other brands 0:08:46.699 --> 0:08:51.739 that are in that in that especially about heavier furniture offering, 0:08:52.019 --> 0:08:53.939 it's it's going to put some pressure on them. 0:09:00.819 --> 0:09:03.179 Your opening is also going to allow many New Ylanders 0:09:03.458 --> 0:09:06.459 for once again experience the love of Swedish meatballs that 0:09:06.498 --> 0:09:10.098 they remember from visiting Ikea stores overseas. I think all 0:09:10.098 --> 0:09:11.979 of us who have lived overseas and I did so 0:09:12.139 --> 0:09:14.578 for some time. Are very familiar where you put an 0:09:14.578 --> 0:09:17.299 itinerary together for your key. We friends and family coming 0:09:17.338 --> 0:09:19.579 to visit you, and they say that very lovely. 0:09:19.618 --> 0:09:22.258 But can we go to Ikea support and. 0:09:22.218 --> 0:09:24.219 Whether it's in Chicago or London, where I was for 0:09:24.299 --> 0:09:26.499 some time, and say that looks great, but let's get 0:09:26.498 --> 0:09:27.659 to the Ika quickly please. 0:09:30.218 --> 0:09:34.019 The only reason I can think of for Ikea that 0:09:34.019 --> 0:09:37.618 that mate would perhaps not make it work so well 0:09:37.659 --> 0:09:40.338 here is that because there's been an absence in the 0:09:40.379 --> 0:09:44.258 market of Ikea for so long. The likes of Kmart 0:09:44.299 --> 0:09:48.179 and the warehouse have their own flat pack furniture, obviously 0:09:48.179 --> 0:09:50.499 not to the scale of as Ikea, but people have 0:09:50.578 --> 0:09:54.018 gotten you know, cupboards and bookshelves and desks and things 0:09:54.059 --> 0:09:54.819 like that already. 0:09:54.939 --> 0:09:57.539 Do you think that IKEA's products will hit. 0:09:57.419 --> 0:10:01.099 As hard as it would have without those competitives, or 0:10:01.098 --> 0:10:03.378 do you think Kmart and the warehouse and the like 0:10:03.419 --> 0:10:04.699 should just give up? Now? 0:10:05.939 --> 0:10:08.658 Oh? No, I mean I think it's not always. I mean, 0:10:08.699 --> 0:10:10.978 first of all, I mean the people like to have choice, 0:10:11.259 --> 0:10:14.338 and you're going to have loyal shoppers that cam loyal 0:10:14.338 --> 0:10:17.538 shoppers at the warehouse. Ike is going to come in 0:10:17.659 --> 0:10:20.619 and it won't be for everyone, and I think in 0:10:20.659 --> 0:10:23.099 a way probably, I mean, it'll be interesting in those 0:10:23.218 --> 0:10:27.899 retailers have been doing research on what might happen once 0:10:27.939 --> 0:10:31.498 I here in market and how does it maybe reshape 0:10:31.539 --> 0:10:34.179 their ranging? You know, they may go down a price 0:10:34.299 --> 0:10:38.619 pointing strategy or you know, if there's resistance to flat pack, 0:10:38.779 --> 0:10:43.258 do do they have less? You know, maybe not quite 0:10:43.259 --> 0:10:48.458 so flat pack not more ready to go? And also 0:10:48.498 --> 0:10:50.419 I mean fundamentally is for business they're in. I mean, 0:10:50.419 --> 0:10:52.939 I think provided they can they can see an appropriate 0:10:53.179 --> 0:10:57.019 ROI they'll you know that they'll stick at it, but 0:10:57.098 --> 0:11:00.099 they probably need to. It may make them think about 0:11:00.458 --> 0:11:04.898 the ranging and what you know, because they may find 0:11:04.939 --> 0:11:08.259 they get really disrupted in some areas but maybe less 0:11:08.259 --> 0:11:08.859 so in others. 0:11:09.379 --> 0:11:12.458 Can you show some examples of perhaps international brands that 0:11:12.458 --> 0:11:16.019 we've gotten quite excited about and that have actually thrived 0:11:16.019 --> 0:11:19.578 in New Zealand? Of course I'm thinking initially straight off 0:11:19.618 --> 0:11:23.458 the back, Costco for example, that was huge when I came. 0:11:23.578 --> 0:11:25.939 I went to Costco on the second weekend that it 0:11:25.978 --> 0:11:29.498 was open, and I regret it. It was terrifying. 0:11:30.699 --> 0:11:33.098 Yeah. Well, actually I went to the opening day you 0:11:33.139 --> 0:11:35.139 can tell I'm a bit of an opening day junkie. 0:11:35.179 --> 0:11:38.659 And I went round and it was, Yes, it was 0:11:38.738 --> 0:11:42.498 quite quite the thing. I mean, the cues, the crowds, 0:11:43.899 --> 0:11:47.498 that raphic, the trap for traffic was I deliberately part 0:11:47.539 --> 0:11:49.179 of the little way away and I walked in. I 0:11:49.218 --> 0:11:51.299 decided I didn't want to get stuck in the car park. 0:11:52.139 --> 0:11:54.059 I think part of the big thing was with the 0:11:54.098 --> 0:11:57.578 sheer bars, the smiles on people's faces, the cues for 0:11:57.659 --> 0:12:03.419 the for the one dollar hot dogs, and and I 0:12:03.458 --> 0:12:06.018 think just the you know Costo like II here, it's 0:12:06.059 --> 0:12:09.819 a scale thing. You know, it's big, and you know 0:12:09.978 --> 0:12:14.699 very much. You know, a retail, a retail cathedral, and 0:12:14.779 --> 0:12:17.019 so yeah, babe, I mean certainly in Costco is just 0:12:17.338 --> 0:12:20.139 hasn't got quieter. You know, Like the queues, especially at 0:12:20.179 --> 0:12:24.179 weekends are arch quite incredible, although they do pretty well 0:12:24.218 --> 0:12:26.858 at pumping people through, but yeah, anytime you want to 0:12:26.899 --> 0:12:28.139 go over, you're going to see it's going to be 0:12:28.139 --> 0:12:32.179 pretty busy. And the queue for their hot roast chickens 0:12:32.218 --> 0:12:35.019 and things as never seems to diminish. They just get 0:12:35.179 --> 0:12:38.499 wiped out. So I mean, yeah, they've done well. I mean, 0:12:38.578 --> 0:12:41.619 some others have found a little bit harder. I think, 0:12:41.618 --> 0:12:44.539 you know, Sephora has found a little bit harder. Obviously. 0:12:45.218 --> 0:12:47.819 You know, the top Shop brand came into New Zealand 0:12:48.259 --> 0:12:52.059 although it wasn't it wasn't directly owned by top Shop itself, 0:12:52.098 --> 0:12:54.978 so it was through a local partnership, so it didn't 0:12:54.978 --> 0:12:58.979 have the same financial dynamics that it would be have 0:12:59.019 --> 0:13:02.338 been the actual brand owner coming in in terms of margin. 0:13:02.458 --> 0:13:03.899 So I think they found a bit tougher because they 0:13:03.939 --> 0:13:06.699 opened up at a magnificent site on Queen Street and 0:13:06.738 --> 0:13:09.899 it was a really lovely store, and foot traffic to 0:13:09.939 --> 0:13:12.139 it looked pretty good. But I think just getting those 0:13:12.819 --> 0:13:15.899 most margin aspects of your overhease too high, it's just 0:13:16.019 --> 0:13:18.778 very hard in retail. And you know, we've had other 0:13:18.939 --> 0:13:22.858 brands here, I mean, you know, Laura Ashley, Body Shotpp 0:13:22.899 --> 0:13:24.939 and so on. It's still have kind of come and gone, 0:13:24.939 --> 0:13:27.618 but they've they've also been having challenges. You know, some 0:13:27.699 --> 0:13:30.978 retail brands go through challenges globally anyway, just as as 0:13:31.139 --> 0:13:34.218 trends change. I mean, the retail chain it's it's not 0:13:34.299 --> 0:13:36.338 quite on the same level as I here, but the 0:13:36.338 --> 0:13:38.379 ones we are really killing it over here. Time in 0:13:38.419 --> 0:13:43.138 his chemist Warehouse and you know they they've really tapped 0:13:43.139 --> 0:13:45.898 into something that you know, we didn't really have that 0:13:46.098 --> 0:13:51.619 large scale, low cost chemist pharmacy offering and all those 0:13:51.699 --> 0:13:55.179 brands before. And you know they I mean I just 0:13:55.218 --> 0:13:58.858 saw yesterday is a new one going up to down 0:13:58.899 --> 0:14:02.378 the road and go wow. They I mean, they're they're 0:14:02.419 --> 0:14:04.018 they're just going gamebusters. 0:14:04.539 --> 0:14:06.379 Yeah, They're popping up everywhere, aren't they. 0:14:06.419 --> 0:14:08.939 I mean, if you could waive a magic wand and 0:14:09.098 --> 0:14:12.778 have an overseas retailer come here tomorrow, or really look 0:14:12.819 --> 0:14:14.378 at New Zealand as. 0:14:14.659 --> 0:14:17.219 A really good option, what would it be? 0:14:17.338 --> 0:14:20.019 I know what my couple are, so I've been advocating 0:14:20.219 --> 0:14:23.539 for Audi to come here for a long time. They've 0:14:23.619 --> 0:14:28.779 just grown roots in Australia. And then another one that 0:14:28.819 --> 0:14:31.699 I was thinking of the other day, would would we 0:14:32.059 --> 0:14:34.699 would we like a Walmart or something here? 0:14:36.219 --> 0:14:40.259 Well, in a way, the warehouses are Walmart, so I 0:14:40.299 --> 0:14:43.739 think I mean, who knows, maybe the Walmart could buy 0:14:43.779 --> 0:14:46.779 the warehouse and then that would that that would be 0:14:46.819 --> 0:14:52.179 interesting the an Audi, Yeah, I mean the the I mean, 0:14:52.179 --> 0:14:56.819 obviously it's maybe strange. A whole other podcast conversation would be, 0:14:57.339 --> 0:15:01.059 you know, the whole supermarket thing and yeah, you know, 0:15:01.139 --> 0:15:03.379 and but but you know, oldie, you know, to come in, 0:15:03.579 --> 0:15:05.739 it's it's just such a you know, one of your 0:15:05.779 --> 0:15:07.579 other questions before is you know, we are a very 0:15:07.579 --> 0:15:10.018 small market for which is why I hear of taking 0:15:10.059 --> 0:15:15.779 their time to come here. They have been richer solutions before, 0:15:16.179 --> 0:15:19.579 all richer market options to go into. So so it's 0:15:19.619 --> 0:15:22.459 when people do come here, it's because they've worked out 0:15:22.579 --> 0:15:24.699 or they think they've worked out how to make money. 0:15:24.979 --> 0:15:28.499 I mean brands. For me selfishly, it's I'm quite passionate 0:15:28.499 --> 0:15:32.379 about some overseas apparel brands. So there's one particular favorite 0:15:32.379 --> 0:15:37.419 of mine is an Italian brand called Boggy and it's 0:15:37.259 --> 0:15:39.859 it's a men's web brand, so you know, basically you 0:15:39.859 --> 0:15:43.019 can buy it online. They they ship out of Australia, 0:15:44.019 --> 0:15:45.579 but if you actually want to go to a store, 0:15:45.619 --> 0:15:47.859 you usually have to be in Italy. The chances of 0:15:47.899 --> 0:15:50.299 from companies in a rather slim. But then you know, 0:15:50.419 --> 0:15:53.379 maybe moving back and be said for some other some 0:15:53.499 --> 0:15:55.499 other things, in the old days, I would have said 0:15:55.499 --> 0:15:57.658 I would have loved to have had a Virgin megastore 0:15:57.659 --> 0:16:00.939 here because that was a place I spent an awful 0:16:00.979 --> 0:16:03.258 lot of time in the n the eighties and nineties. 0:16:03.579 --> 0:16:08.659 But as you know, music and entertainment shopping is chat. 0:16:08.939 --> 0:16:12.659 When we used to have records and CDs, records. 0:16:12.299 --> 0:16:15.099 And CDs and Virgin Megastore was like the ultimate place, 0:16:15.219 --> 0:16:18.179 Bad and Tower Records of the ultimate places. But they 0:16:18.179 --> 0:16:20.779 don't really insist the same way now, so it's not 0:16:20.899 --> 0:16:21.819 quite the same call. 0:16:22.299 --> 0:16:28.219 What would convince someone like another one over in Adelaide's 0:16:28.299 --> 0:16:32.179 just got a couple of TK Max's and a unique cloth. 0:16:32.899 --> 0:16:36.019 And there's another Japanese brand that we were talking about before. 0:16:36.059 --> 0:16:36.898 I think it's Mooji. 0:16:37.659 --> 0:16:41.219 What would make you know one of those brands actually 0:16:41.299 --> 0:16:42.299 look at New Zealand? 0:16:42.299 --> 0:16:43.459 What do we have to do. 0:16:45.259 --> 0:16:47.579 Well? It may partly be seeing some of these other 0:16:47.619 --> 0:16:53.059 international operators succeeding. So I mean Costo, I don't know 0:16:53.059 --> 0:16:57.339 whether IQ have been IQ have been coming for years, 0:16:58.379 --> 0:17:01.459 and I don't know whether Costo actually getting in and 0:17:01.499 --> 0:17:06.419 breaking ground and building is helped. If ikea similar confidence 0:17:06.419 --> 0:17:08.699 to come into market, it probably I mean for them, 0:17:08.739 --> 0:17:12.138 it's probably seen what is the economic situation, what what 0:17:12.379 --> 0:17:16.979 is working or thriving in New Zealand And? And identifying market gaps? 0:17:17.179 --> 0:17:19.379 You know, what isn't being said I think that's you know, 0:17:19.459 --> 0:17:22.019 come back to Chemist Warehouse. Why they've done well is 0:17:22.099 --> 0:17:25.579 there was nothing like it in market, and you know, 0:17:25.619 --> 0:17:30.579 the the established retailers of day to day pharmacy goods 0:17:30.659 --> 0:17:33.259 were we're doing in a in a much more traditional way. 0:17:33.699 --> 0:17:37.059 So they've come in discounted, but also the arranging is 0:17:37.579 --> 0:17:39.819 very very different, you know. I mean another brand that 0:17:39.819 --> 0:17:43.619 would be really interesting over here is Primark, which is 0:17:44.459 --> 0:17:48.699 you know, again fast fashion, super cheap. You know, it's 0:17:48.899 --> 0:17:51.979 you can you can get kitched out for so little 0:17:52.019 --> 0:17:54.939 and they and they their stores are massive over in 0:17:55.059 --> 0:17:59.939 particular the UK and multi floor pretty much pick up 0:17:59.979 --> 0:18:02.859 whatever you want. I would have thought the Prime RK 0:18:03.099 --> 0:18:07.019 would kill over here. Actually it would if if they 0:18:07.019 --> 0:18:08.619 come back to point why would they come here? They 0:18:08.659 --> 0:18:11.339 would just had to establish that there was a market 0:18:11.419 --> 0:18:15.979 gap that wasn't being served well by the existing insisting players. 0:18:16.379 --> 0:18:17.899 Thanks for joining us, Ben. 0:18:18.019 --> 0:18:19.418 You're welcome. It's pleasure. 0:18:22.419 --> 0:18:25.579 That's it for this episode of the Front Page. You 0:18:25.579 --> 0:18:29.379 can read more about today's stories and extensive news coverage 0:18:29.379 --> 0:18:31.059 at enzidherld. 0:18:30.499 --> 0:18:31.779 Dot co dot nz. 0:18:32.539 --> 0:18:35.819 The Front Page is produced by Jane Ye and Richard Martin, 0:18:35.899 --> 0:18:40.499 who is also our editor I'm Chelsea Daniels. Subscribe to 0:18:40.539 --> 0:18:44.019 the front page on iHeartRadio or wherever you get your podcasts, 0:18:44.339 --> 0:18:47.859 and tune in on Monday for another look behind the headlines.