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· Posted on
February 21, 2024

IGA owner Metcash sees profits rise thanks to neighbourhood shopping and cheers COVID

Metcash are an Aussie grocery, hardware and liquor store owner. Think: IGA, Foodland, Mitre 10 and Celebrations Liquor.

What's the key learning?

  • Despite locky-d,  Metcash have seen their revenue and profits up over the six months to October 31
  • With lockdowns (and 5 and 10 km-radiuses), Aussies were forced to stay in their local radius
  • Metcash are saying that this triggered a rise in popularity for neighbourhood supermarkets.

Background: Metcash are an Aussie grocery, hardware and liquor store owner. Think: IGA, Foodland, Mitre 10 and Celebrations Liquor.

What happened: Despite locky-d killing retailers, Metcash have seen their revenue and profits up over the six months to October 31. And they reckon it's only gonna get bigger and better as we head into Christmas.

What else: Metcash are saying that while the pandemic triggered panic buying, it also triggered a rise in popularity for neighbourhood supermarkets (the cherry on top).

So what's the key learning?

💡The local village has made a bigger comeback than Adele after her latest album.  

💡With lockdowns (and 5 and 10 km-radiuses), Aussies were forced to stay in their local radius. In fact, nearly two-thirds of consumers have chosen to buy closer to home in the last year.

💡This triggered a rise in popularity for neighbourhood supermarkets and the like...which has been tops for businesses like Metcash's local IGAs. Now, let the good, local times roll.

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