Retail News CRM

Tag: 2027

  • Coles Plans Closure of Crime-Plagued Elizabeth Street Store in Melbourne CBD by 2027

    Coles Plans Closure of Crime-Plagued Elizabeth Street Store in Melbourne CBD by 2027

    Coles, a leading supermarket chain in Australia, has disclosed plans to shutter its store on Melbourne’s infamous Elizabeth Street due to the location’s ongoing issues with crime and antisocial behaviour. The location, which has once again come under the spotlight following two separate machete attacks recently, is situated across from Melbourne’s Flinders Street station. The Coles Central store shares its vicinity with Woolworths Metro, located just a few doors down.

    A Strictly Commercial Decision

    Coles has stressed that the decision to vacate the premises at the end of their lease agreement in 2027 is purely a business move. This will result in the supermarket maintaining only one store in Melbourne’s Central Business District (CBD), based in Melbourne Central.

    The supermarket chain has recently made public its extended collaboration with Crime Stoppers Victoria, aiming to address the issue of crime within retail settings. Increasing instances of theft, abuse and hostility towards frontline workers have contributed to a progressively challenging environment within the retail sector, a Coles representative explained.

    Martin Smithson, General Manager of Supermarket Operations at Coles, stated that the rise in retail violence was absolutely unacceptable. He emphasized that the partnership with Crime Stoppers was just one of the steps being taken to tackle it, and called for a collaborative approach involving industry, retailers, government and police.

    Victoria: A Hotspot for Retail Crime

    Victoria, and particularly Melbourne, has been a focal point of Australia’s escalating retail crime issue. In 2025, the state recorded 95,181 criminal incidents at retail locations, marking an increase of 25.7% over the preceding decade.

    According to Chris Rodwell, CEO of the Australian Retail Council, the trend is irrefutable. Retail crime in Victoria continues to surge, posing a persistent, widespread threat to frontline workers and customers.

    Questions & Answers

    What is the reason for Coles’ decision to close its store on Elizabeth Street?
    The decision is strictly commercial, according to a Coles spokesperson.

    How is Coles addressing the issue of retail crime?
    Coles has announced an extension of its partnership with Crime Stoppers Victoria to help tackle retail crime.

    What has been the trend in retail crime in Victoria over the past decade?
    The state has seen a 25.7% increase in criminal incidents in retail locations over the past decade.

  • Ikea’s Grand Expansion: 25 New Stores to Enliven India’s Retail Landscape by 2027

    Ikea’s Grand Expansion: 25 New Stores to Enliven India’s Retail Landscape by 2027

    Swedish furniture giant Ikea is broadening its reach in India with the inauguration of a new 3000 square foot store in Pune. This move is a continuation of the company’s assertive expansion across the country, adding to its already established locations in prominent cities such as Hyderabad, Navi Mumbai, Bengaluru, Mumbai, and New Delhi.

    Growth Plans in India

    Over the next half-decade, Ingka Group, Ikea’s parent company, has outlined its plans to establish an additional 25 small and medium-sized stores nationwide. This is part of the company’s aggressive multi-format growth strategy that aims to expand their influence in the Indian market.

    In addition to these smaller shops, large-format stores are also in the works as part of Ikea-owned shopping centres in the outskirts of New Delhi. The first of these larger establishments is scheduled to open in Gurugram, with Noida following suit.

    A Strong Understanding of the Local Market

    Ikea India’s CEO, Patrik Antoni, is confident in the company’s understanding of the local market. This confidence stems from the successful navigation of unique customer needs in different regions across the country.

    Antoni stated, “We can inspire more people to make the most of their living situations – offering ideas and solutions that may be new to many people in India. Expanding our network and becoming more accessible is key to that.”

    Questions & Answers

    What is Ikea’s expansion plan in India?
    Over the next five years, Ingka Group, Ikea’s parent company, plans to establish 25 small to medium-sized stores across the country. They are also developing large-format stores outside New Delhi as part of Ikea-owned shopping centres.

    Where are Ikea’s new large-format stores being built?
    The new large-format stores are being planned outside of New Delhi. The first of these stores is set to open in Gurugram, followed by Noida.

    What is Ikea’s approach to the Indian market?
    Ikea aims to inspire more people in India to optimize their living situations by introducing them to novel ideas and solutions. They believe that expanding their network and enhancing their accessibility is the key to achieving this objective.