I’d agree that Wollies ultimate undoing was their refusal (or inability) to properly innovate.

One of the problems that Wollworth’s demise will cause is holes in high streets up and down the country. But that just proves that as public consumption has been shifting from the high street Woolies didn’t really innovate.

The online aspect is probably the most obvious. The bulk of products that people bought in Wollies can either now be bought just as easily and cheaply in supermarkets or online. Just hoping people would stick with the company because it was almost 100 years old was never going to work.

Another key problem (although perhaps also linked to falling sales) was the lack of investment in the stores themselves. I have a friend whose job involves him working on the renovations of large suppermarkets chains.

He says that most big stores have a (roughly) five year lifespan after which they get a facelift to encourage people to keep coming. A quick trip to any Wollies would say it’s mostly been a long time since this happened.

So it’s sad to see it go, especially as someone who still went in regulalry. But it’s hardly a shock.