'This is the final nail in my coffin': Small business owners are forced to shut up shop as Woolworths launches modern convenience-style store next door

LAUREN FERRI
10 January 2019
DAILY MAIL AUSTRALIA
Small business owners are being forced to shut their shops for good after Woolworths expanded their new Metro stores to Sydney’s inner-north shore.
The supermarket giant is slowly building more of the smaller convenience-style stores across the city, but now business owners in Kirribilli are paying the price.
The owner of a fruit shop next to the latest Woolworths Metro said he sees no future for his store and has already cancelled his lease.
The new stores offers ready-to-eat meals, an onsite butcher, barista-made coffee, fresh Seafood and even Sushi.
According to news.com.au, the smaller modern stores are targeting Sydney’s high-density areas.
The new store offers ready-to-eat meals, an onsite butcher, barista-made coffee, fresh Seafood and even Sushi.
Because of the new, cheaper products Woolworths now has on offer, smaller run shops and cafes are worried they won’t be able to keep up with the competition.
‘I didn’t sign the renewal of my lease because we can’t afford to play against these big boys,’ fruit store owner Nick Economidis said.
Although his regular local customers have vowed to stay loyal to him and other independent businesses in the area, he doesn’t see how he can stay afloat.
While there has been growing competition in the area, Mr Economidis said: ‘this is the final nail in my coffin’.
Mr Economidis is convinced that once the supermarket giant manages to push out all smaller business, they’ll then do whatever they please with the prices.
Owner of the Milson Point Supermarket is also feeling the squeeze, having to move his florist into the store rather than on the outside to save money.
Manager of Bakery on Burton Raz Shrestha is also worried as he believes Woolworths Metro will affect every business in the small community.
Queensland University of Technology retail expert Gary Mortimer said the smaller modern stores are on the rise, and we should expect to see more from supermarket giants.
The metro style supermarket works better in city’s with a higher-density population but no room for full-size stores.
‘Smaller format metro-style stores work really well and people who tend to live in those high-density urbanised areas tend to shop more frequently but buy fewer products,’ Mr Mortimer said.