1.

Introduction
Since its establishment 90 years ago, Coles has developed itself to be one of the
pioneering companies in the Australias retail industry. George Coles the founder of Coles
Supermarket has a key influence in the early Australias retail industry (Deloitte, 2012).
George the son of a retailer travelled to the United States in the early 1900s to view and
observe the retail practice. He returned to Australia and established the first retail practice
along Smith Street; Collingwood, Melbourne. Over time the retail stores grew in number and
soon they became famous for their slogan nothing over 2/6. The first Cole variety store was
opened in 1927, and in 1935 the company listed on the Melbourne Stock exchange. The
company became a leader in the Australian retail industry in offering value to customers. The
first Coles supermarket was opened up in 1960 in North Baldwyn, Melbourne, and 13 years
later, in 1973, the company achieved its goal of establishing a retail supermarket in every
Australias capital city (Gunasekaran, 2008).
In 1985, Coles Myers limited was established after Coles supermarkets merged with
Myers Emporium limited through a cash offer of $918 million. In July 2007, Wesfarmers
purchased Coles supermarkets for a cash offer of $22 Billion. Myer was de-merged from the
Coles business in 2005 to private equity business, and floated as a listed company in 2009.
Today the company still continues with its tradition of Australian traditional food retailing,
employing over 10,000 people, who collectively carry out transactions amounting to 18
million per week. Coles supermarkets are one of the two supermarket chains operating in
Australia (Gunasekaran, 2008).
There are about 140,000 retail businesses in Australia, contributing about 4.1% to the
GDP. The retail industry employs about 10.7% of the total employment in Australia. The
grocery retailers in store based sales accounted for 51% of the sales in 2012, with the nonstores retailers accounting for 495 of the retail sales (Coles, 2011). The industry grew by 2%

in 2012 in the wake of low customer confidence. Cole supermarkets have over 742 stores all
over Australia, the total sales of the retail supermarkets increased by 4.2% in 2010 to $30
billion. This means that Cole Supermarkets controls about 31% of the market. This puts it in
second place behind the market leader Woolworths at 40%. On the financial period of 20112012 the company generated revenues of $23.6 Billion (Deloitte, 2012).
Over the past 5 years there have been significant developments in the grocery
industry. There has been an entry of new players in the industry. Costco has entered the
market while ALDI has expended since its entry in 2001. The recent changes in the grocery
markets are occasioned by the increase in the number of online customers. Customers
increasingly prefer to shop online than in the traditional methods (Deloitte, 2012). In
response to the cost of living that were affecting consumer due to the increase in global fuel
prices, in 2008, the links between the grocery industry and fuel industry has normalised. In
2008, the Australian government commissioned the Australian competition and consumer
commission to regulate the industry. The trade practices act was recast as the competition ad
consumers act in 2010, and this was followed by several amendments of policy and
regulations in the years that followed. Supermarkets in the industry have developed a new
marketing and pricing strategies (Nenycz-Thiel, 2012).
This essay is a strategic management analysis on Coles supermarket including
external, industry and internal analysis of Coles followed by the identification of Coles
strategic features, strategy implementation and some predicted key challenges facing the
company. The essay will then be concluded by some suggested recommendation for Coles in
the future.

2. External analysis
2.1. Macro-environmental factors
2.1.1. Political factors
There have been significant changes in the political and legal atmosphere in the last
five years that will affect the operations of retailers in the industry (Plunkett, 2008). The
federal government developed the Australian Competition and Consumer Commissions
(ACCC), which is regulating the industry (Tootill, 2012.). The ACCC has introduced various
policy changes that will open up the industry to competition. These among the various
legislative changes that include tax and regulatory environment are factors that Cole should
take into consideration when formulating strategies.
2.1.2 Demographic factors
Australias population grew by about 1.8% in 2012; most of the population lives in
urban areas. The high density population areas are the urban centres. Australias population
comprises of the white people and the indigenous populations (Deloitte, 2012). The majority
of the population consists of the youth. Cole has its presence in all capital cities. The
company should then focus on maximising the full potential of the markets. The company
should focus on the people between 15 to 67 years because they occupy majority people of
the population.
2.1.3. Technological environment
There has been rapid advancements in the technological environment in the last five
years. Companies and people are employing the use of smart systems and technologies to
boost the efficiency of their operations and monitor their progress (Hattersley, 2013).
Australias population is increasingly using computers and other technologies to do their
shopping. Cole uses the latest technology to track the process of its stock, and also examine
the change in consumer demand and preferences.

2.1.4. Socio-Cultural factors.

One of the significant trends is the increasing awareness and consciousness of the
consumers towards their well being and health. There has been a continual shift of tastes and
preferences of consumers towards more organic and healthy product (McCarthy, 2013).
Currently there are few players in the industry who is offering the sales of organic foods and
products. This presents an opportunity for Cole Supermarkets to venture into healthy and
organic foods and products. This will enable the company to tap on the already available
market and also respond to the changes in the tastes and preferences of customers (McCarthy,
2013). This also highlights the threat to Cole supermarkets that farmers markets and niche
supermarkets, which specialise in organic and healthy products, will thrive.
There have been an increasing number of time sensitive consumers in the Australian
market. There has been an increasing demand for time convenience among consumers in the
market. The ability to meet and satisfy time sensitive customers is the possibility of
extending the trading hours. Cole supermarkets can also provide more convenience to
customers by extending the range of products to customers as much as possible. Cole
Supermarkets have responded to these customer needs by creating Coles express.
2.1.5. Economic Factors
The current trend in the economic climate has resulted in the reduction of consumers
purchasing powers. The most adversely affected goods are the flexible goods; consumers are
shifting into private labels in order to save costs (Hattersley, 2013). This has allowed private
labels to compete on the basis of lower prices while making a huge profit margin. The
provisions of private labels by Cole supermarkets will enable supermarkets to compete on the
basis of choice convenience, which is, offering customers a low cost choice alternative.

2.1.6. Global environment.

Changes in the global operating environment occur rapidly meaning that companies
must continually adapt to suit these changes. Globalisation has brought about the free
movement of people and goods in the world (Kumar, 2008). Products from all over the world
compete in the local economy. Changes in the global operating environment affect the local
economy. Companies are not spared from the harsh environment of the global operating
environment. Cole and other companies must continually change to suit their needs and
strategies to fit the global environment.
2.2. Industry Analysis
This section will first utilise the Porters Five Forces analysis to examine the
competitive forces in the retail industry in Australia. It will then examine the attractiveness of
the Australian grocery industry in the advent of the current operating environment. This will
be preceded with the examination of Cole Supermarkets relative position in the industry.
2.2.1. Threat of substitutes
The threat of substitutes in the grocery and retail industry is high. Cole supermarkets
lace numerous convenience stores, grocery stores and the farmers markets. The indirect
competitors form the significant threat of substitutes to Cole supermarkets. Convenience
stores have experienced significant growth recently, and are offering more choices to
customers (Hattersley, 2013). This is offering direct competition to supermarkets on offering
the choice convenience and the wide range of products to consumers. The shift of consumer
taste and preferences towards healthy and organic products means that farmers markets offer
a potential threat to supermarkets. The rise of time sensitive consumers makes the perceived
threat of specialty stores minimal.

2.2.2. Competition
With over 140, 000 retail stores in the Australian retail industry, there is high
competition in the industry. The high degree of rivalry that exists in the industry is as a result
of the small number of retail stores in the industry, and low perceived difference in the
generic nature of the goods and services offered in the industry (Deloitte, 2012). The biggest
determinant of the level of competition is the price, although store location and product
choice also play a major role. Woolworths are Cole supermarkets biggest competitors in the
industry, which is the market leader followed closely by Cole supermarkets. The rivalry in the
industry is bound to increase in the future due to the entry of new players in the industry, and
the growth and expansion of private retailers like IGA and Action (Gunasekaran, 2008).
2.2.3. The Bargaining power of customers
The bargaining power of suppliers in the industry is low, because Woolworths and
Cole control 75% of the market share, therefore, the supplier has a limited selection of
intermediaries to select from in the industry. In the producers production, in most cases Cole
and Woolworths are the major purchasers in the industry, and sometimes the only purchasers
in the industry (Deloitte, 2012). Woolworths and Cole have a significant market share
presence in Australia, such that major companies like Nestle and Kelloggs do not dare upset
these two companies. This is set to change in the future, the emergence of action
Supermarkets, and the expansion of IGA is set to erode the significant power that Woolworths
and Cole have in the industry. The recent policy changes by Federal Government and The
Australian Competition and Consumer Commissions (ACCC) to reduce the barriers of entry
in the industry (Deloitte, 2012). The bargaining power of suppliers in the industry is expected
to be moderate in the years to come, because of the wide range of intermediaries that
producers can select from in the industry.

2.2.4. The bargaining power of buyers.

Although the bargaining power of consumers is low in the industry, it is set to
increase in the future. The aggressive push by the national government and ACCC to reduce
the barriers of entry in the industry is set to increase the bargain power of customers in the
future due to the entry of numerous players in the industry. The emergence of price
comparison websites will lead to the increase in the consumer bargaining power I the industry
(Tootill, 2012.). The price comparison websites such as grocery.bestpricedirectory.com.au,
enable consumers to compare the prices of products among various supermarkets and
convenience stores in the industry. The bargaining power of buyers is set to crease to a
moderate level in the future.
2.2.5. Threat of new entrants
The threat of new entrants in the industry is low. This is expected to remain like that
in the near future because of the indigenous agreements of the zoning laws and other
agreements like leasing, rent, and ownership. These laws have resulted in the scarcity in the
grocery and retail stores location sites, especially for the foreign players who are seeking to
venture into the grocery and retail industry in Australia (Tan, 2012). This is despite the
amendments of federal governments and ACCC law and regulation to encourage entry of new
companies and competition in the industry. The threat of entrants is expected to remain low in
the foreseeable future. The preferential treatment of Cole and Woolworths by landlords due
to the amount of traffic that both companies attract discourages new entrants in the industry.
New entrants in the industry must compete with Cole and Woolworths economies of scale,
thus the new entrants must invest heavily in infrastructure and facilities, and seek for
expertise to manage the business, which is hard and rare to find (Gunasekaran, 2008). New
entrants in the industry require significant investments and undertaking, and only a few
players like IGA and Action are low.

2.2.6. Comparison of the industry attractiveness for Cole supermarkets

The Porters five forces have highlighted the industry attractiveness for Cole
supermarket. In the recent past, the industry attractiveness for Cole has been moderately high,
or extremely high in the industry (McCarthy, 2013). The main cause for this was the high
barriers of entry in the industry, and the low bargaining power of buyers and sellers in the
industry. This is highlighted by the high profitability that Cole enjoyed in the industry.
However, this is set to change because of the various changes that is occurring in the industry.
The increase in the bargaining power of buyers and sellers, and intensity of competitors in the
industry is set to reduce the attractiveness in the industry from high to moderate. As a result
of this the profitability of Cole supermarkets is set to reduce from high
to moderate. The ability of Cole supermarkets to out performs its rivals in the industry lays
on its ability to properly utilize its resources and capabilities (Nenycz-Thiel, 2012).
3. Internal analysis Coles Core Competencies
The capabilities of Coles supermarkets are vital when they are combined in a unique
and sustainable manner that create core competencies for the organisations, which develops
and creates strategic value and ensures that the company maintains a strategic advantage over
its competitors (Hattersley, 2013). The capabilities of Coles highlights the ability of the
supermarket to effectively deploy its resources, which have been integrated purposely to
achieve the goals of the organisation. The core competencies are the vital capabilities that
function as the basis of Coles competitive advantage over its rivals (McCarthy, 2013). Core
competencies distinguish Cole supermarkets competitively and make it distinguishable in the
market. These core competencies are identified below.
Highly Effective Supply Chain:
Coles efficient supply chain is both a resource and a capability in the companys
inbound and outbound logistics. The substantial cost saving provided by the supply chain

enables Coles to compete effectively with Woolworths (Gunasekaran, 2008). The level of
technological capability and supply chain efficiency is non-substitutable for any other
resource. The level of competency is vital for the proper management and implementation of
the promise of the organisation. Should Cole have efficient supply network and technological
advancement and sell products of high quality? It would be irrelevant (Hattersley, 2013).
Thus, by the aforementioned an effective supply chain is deficient as a separate competency,
and must be sustained by other competitive advantages.
Brand Reputation:
Coles brand image has been developed over several decades and this was achieved
through positive consumer experiences. This can be attributed to the stringent quality
assessment that exists in the company. Coles brand is valuables, because it offers substantial
differentiation from the rivals, and contributes of the high level of customer satisfaction
(Coles, 2011). However, competitors offer high quality and fresh food products. Thus, this
reputation is not a distinctive competitive advantage; rather it is a point of parity, which Coles
must enjoy in order to compete.
Effective Top Management:
The competencies of Cole has enabled it the company to be able to navigate the
operating environment effectively in the advent of recessionary pressures. This can be
attributed to the company top management. The top management will be relied on by the
company to be able to navigate the increasingly competitive environment, in particular CEO
John Fletcher (Mills, 2002). Consequently, the competence of top management in directing
Coles through the current turbulent economic climate and constantly achieving high growth
rates makes it a valuable resource. As such, it is non-substitutable by any other resource.
However, it cannot be considered exceptional and rare, the maturity of the industry highlights
at most companies in the industry capable senior management (Gunasekaran, 2008).

The following are the means through which Coles supermarkets frames its strategic
focus by employing the sustainable advantage and the value chain analysis of core
competencies.
Sustainable advantage
When framing the strategic advantage Coles supermarkets employs the following four
criterias; valuable, rare, non-substitutable and costly to imitate. Valuables are the core
competencies that are not possessed by many others (McCarthy, 2013). This are the values
that enable the company to be able to neutralise the threats and exploit the opportunities
available to the company. Through this, the Cole supermarkets is then able to create value to
its customers. The value chain of Coles supermarkets is efficient that it enables the company
to be able to create value to its customers (Dwivedi, 2012). Through its value chain and
economies of scale the company is able to offer customers products of high quality standards
at low possible costs, therefore, creating value to customers. This strategy adopted by Coles is
costly to imitate. The company has developed its value chain system and economies of scale
through decades of experience giving the company a competitive advantage over its
competitors. The strategy is extremely costly for companies to copy, especially the new
entrants, because of the capital resources required (Coles, 2011). The economies of scale is
easily substitutable, and this is demonstrated by Woolworths. The strategic advantage
possessed in the value chain analysis is extremely difficult for other companies to substitute
because it possess invisible capabilities. The level of technological capability and supply
chain efficiency is non-substitutable for any other resource. The level of competency is vital
for the proper management and implementation of the promise of the organisation (Plunkett,
2008). The firms possess a specific knowledge over the other companies in the industry in
the value chain analysis. In Australias retail industry not many companies possess the

10

strategic combinations of core competencies, which Coles possess that is giving it the
strategic advantage.
Value chain analysis
Coles supermarkets main business objectives are all geared towards delivering the
achieving its mission which are Down Down, Prices Are Down and Quality food costs
less at Coles. The value chain analysis is the system through which Coles supermarkets has
separated it value creation activities (Dwivedi, 2012). The goal of these activities for Coles
supermarkets is offer customer values that exceed the cost of the activities, thereby, creating a
profit margin.
All the activities of the organization are geared towards attaining and delivering the
objectives (Coles, 2011). The main value chain activities that are geared towards delivering
the promise of Coles supermarkets includes the following:
In-Bound Logistics
Coles being a retailer does not produce the product it sells in its stores. Coles just
controls the distribution network of the products (Nenycz-Thiel, 2012). Procurement and
logistics are the two main activities within the organization that contribute to the firms
success in delivering on its promise. The products that come directly from producers go
directly to the regional or national distribution centre, where the product quality is certified
before it is distributed to the various stores nationally. Cole supermarkets own and operate its
own distribution trucks, which are involved in the companys own distribution system
(Kumar, 2008). This puts the company in a better position in ensuring on time delivery of
goods and services. Additionally, operating the distribution centres (DCs) and trucks in its
delivery chain puts Cole supermarkets in a superior position to warrant optimum distribution
efficiency and product quality.

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Operations
Operations activities cover two primary activities that guarantee the consumers
convenience and value, improved quality assessment and proper management of inventory.
The two primary activities include the following;
Checks and balances are put in place to ensure that from the time stock arrives in the
store, to when they are displayed on the shelves they detect and remove defective products.
The minimum presentation level for each product is tracked to ensure the products do not fall
beyond the require levels (Dwivedi, 2012). The sophisticated point of sale (SOS) keeps track
of the sale of the products, and it authorizes re-stocking when the product falls below the
minimum presentation level. Cole supermarkets use modern and advance forecasting models
that evaluate the change in consumer demand so as to optimize the sale of products (Dwivedi,
2012).
Marketing and Sales
In-store Promotions and Organizational Dynamism are the two main activities that
ensure the success of marketing and sales endeavours of Cole supermarkets. In order to boost
sales in its branches all over the country the company holds weekly special offers where the
prices of certain goods are reduced significantly (Cleanthous, 2011). In order to supplement
this offer, the company issues catalogues that show consumers the products that are available
on offers. This strategy is highly effective in boosting the sale of products and the turnover of
products in the store. For example, normally Cole sales $2000-$3000 worth of toilet papers
weekly, during weekly specials the sales of the products increases to $8000. The success of
Cole will be judged on the ability of the company to keep up with the change in consumer
trends and preferences. Under the Coles quality food brand, the company has introduced easy
to prepare meals in order to cope with the changing preferences of consumers (Meyers,
2010).

12

There are also other activies within the value chain that contribute to achieving Coles
mission; which are:
- Outbound Logistics; distributing the products to the various branches using the
companys distribution network.
- Services; supporting customers to understand the value offered in the
products, and assist them in locating the products (Gunasekaran, 2008).
- The supply chain value addition services are supported by the superior
technology that cannot be substituted by any other firm in the industry, and the
level of resources and infrastructure available to the firm.
4. Coles main strategies
The business-level strategy that Coles adopts involves the integration of cost
leadership and differentiation strategy. The company uses its brand image to differentiate and
superior supply chain to minimise the costs of its products (Mules, 2011). The cost leadership
strategy is used to ensure that the company offers value to customers at the lowest cost
possible (Coles, 2011). This is achieved through its economies of scale activities, profound
influence over producers, use of advanced technology and efficient supply chain. The low
perception of products in the market means that there exists a low perceived difference
between the products. Cole supermarket employs its differentiation strategy through brand
image. The company has developed its image over decades, and through offer value and
satisfaction to customers. The integration of cost leadership and differentiation strategies
means the Cole supermarkets are able to target a broad segment of the market, by offering
products that are different from rivalries at the lowest costs possible (McCarthy, 2013). The
low cost strategy ensures that Cole focuses on producing products that have few frills, which
demonstrate the superior quality with a limited selection. The product differentiation features
ensure that customers can identify the different offering on Coles products. The integration
13

of these strategies ensures the products possess good to excellent product feature, with many
upscale product features. The generic use of the integration strategy ensure that Cole
supermarkets strive to come up with new ways that will offer value to consumers while
offering product at the lowest costs possible (Tootill, 2012.). This would ensure that the
company does not sacrifice on offering consumer products with superior quality.
The main corporate-level strategy for Coles business is to become the market leader
in the Australias retail industry (Meyers, 2010). Wesfarmers portfolio management is
focussed on identifying and investing in value added services. Wesfarmers strategy focuses
on diversifying its portfolio across various industries. Their strategy focuses on strengthening
the existing industries, identifying of growth opportunities and sustaining responsible
business operations. BCG is a framework that is used to analyse the strategic position of
Coles supermarkets business brand portfolio. In Coles Supermarkets case, the company has a
substantial market share. This means that the company utilises more cash, and also receives
substantial returns. The company benefits from economies of scale and has decades of
experience in the industry. The market share growth rate is relatively small, in 2011 the
grocery and retail industry grew by less than 2%.

14

Coles belongs in the cash Cow category it should invest maintain and growth in the relative
position in the market. Coles earning are high and stable, and the flow of cash is also high
and stable.
5. Strategy Implementation
Implementation of strategies by Cole follows the leadership, performance
measurement and turning strategy into action mechanisms. The strategy implementation in
Cole supermarkets is strategically driven, which involve all people in the organisation. The
management of Cole knows that staff members look into leaders to provide meaning, a sense
of direction and to establish purpose and value (Cleanthous, 2011). The process of
transforming strategy into results is achieved through engagement of all staff members and
personnel. The engagement of all people in the organisation will turn the strategy into the
action, and bring about the sense of ownership in strategy implementation. The resources for
strategy implementation are done through the various departments and individual levels of
the organisation (Tan, 2012). This ensures that the strategy implementation is successful.

15

Leadership in implementation of strategies makes a difference. It is the difference

between success and failure of the organization. The turning the strategy into action involves
linking the strategy through the departmental and personal activities. In this way, the strategy
implementation will be translated in a manner that is clear and concise. The strategy will be
divided into manageable outcomes for the departments and individuals (Plunkett, 2008). The
communication, concise, and cascading effects of strategy implementation are achieved
through putting the plan into action. The capacities for the strategy implementation
redeveloped internally within the organization.
The performance management is carried out to ensure that the strategy
implementation is done within the plan and time scale requirements. In order to ensure that
there exists proper strategy execution within both the individual and institutional level the
policies and procedure that facilitate strategy implementation should be examined and
analyzed. This will enable all people involved in the implementation process to understand
the policies guiding the implementation and execution of strategies. Adoption of information
technology tools would enable foster the implementation process. The implementation team
would identify information technology tools that foster the implementation of strategies.
Coles supermarkets organisational culture will foster strategy implementations. The cultural
practices within the organizations is tailored towards ensuring the goal and objectives are
achieved.
6. Key challenges
Resistance to change, culturally Australians are resistant to change, for instance, the
Australian consumers have been reluctant to move online and slow to clear out stock. In
Australia the costs of doing business are extremely high, costs of rent and workers are among
the highest in the globe (Hattersley, 2013). The global economic environment is experiencing
sluggish growth. This is due to the recent economic recessions experienced in Europe. The

16

effect of this is tightening of capital and banking facilities. It is not easy for companies to
access credit. The retail industry is experiencing too much, or incorrect inventory levels.
Rotating of stock is vital for any retail business. The retail companies have been reluctant to
rotate any stock (Deloitte, 2012). Australia is a land of opportunities; young people are
getting jobs and running the business. The young and inexperienced do not have the capacity
to run businesses especially in the tough and rough economic climates. The retail industry has
been slow to embrace the internet and social media.
7. Recommendation
The Australian retail industry should embrace technological advancements in order to
be able to achieve its strategic objectives. The use of online retail stores is increasing in the
Australian economy. Retail stores should embrace online retail stores and social media in
order to grow their business (Kumar, 2008). The Australian business is characterized by
resistance to change. The retail companies have been slow in embracing the change of
attitudes and consumer preferences towards organic and healthy food products. In this
uncertain economic turmoil, retail companies should streamline their operations in order to
make substantial cost savings, which would enable the company to have additional funds for
spending.

17

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