Yes I like their 50 reasons to visit Masters. I am excited about Masters I feel its a good strategy, Lowes envolvement derisks the move into hardware. I also believe they have confidence in their supplier relationships by offering a guarantee "find it cheaper we will beat it by 10%" - The point being they are confident you won't find the same branded product cheaper, again this has come about through leveraging Lowes buying power.
Bunnings have had a 10 year party with weak competition. The nearest competitor (Mitre 10) has 4% market share, roughly 1/5 the market penetration of Bunnings. Bunnings have had Revenue and EBIT growth of 10%pa + over the last 10 years. Its a market ripe for Woolworths to muscle into and place pressure on smaller independent players.
Early1 you are correct in some Masters stores opening with McDonalds/McCafes attached including a kids playground - clever strategy IMO.
The stores have also been developed to be more female friendly than the competitors.
masters - read for a laugh!, page-2
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