Wednesday

Meeting four

Please click here to watch a video and complete the text below;
Jot down new expression;
Prepare the similar topic to discuss at class.

enjoy the video here

Meet a man with plans for a new kind of food store.

LUISA SACCOTELLI: This is a new type of food store. It's organic but on a large-scale format, a bit like a supermarket. What it may become is a category killer - not that there's much of one yet - less than 20 cents out of every $100 spent in an Australian supermarket goes on organic food, but signs are that that could be about to change.

PIERS CODY: I like to watch 1)............................... I'm a 2)................................, I guess. I was looking for the next new thing and this came along.I was travelling quite a lot overseas and saw a company over there called Fresh And Wild. If you just walk in, the engagement with the shopping experience was much higher than you would see people like drones running around a supermarket.

LUISA SACCOTELLI: Before he turned to retail, Piers Cody was in media, having built up Cody Outdoor Signs into a big 3)................................

PIERS CODY: I would drive around with a dictaphone in my hand. As I would see the side of a building or a roof, I'd dictate, you know, "corner of whatever", get back and do a title search and away we go. We 4...................................to approximately 600-odd signs turning over about $60 million. It was a very nice business.

LUISA SACCOTELLI: Then Cody 5)............................................to O'Reilly's APN. Handsomely rewarded, he bought an organics shop in Bondi.The offering has been refined with a second Sydney store and days ago, a third in Melbourne.

PIERS CODY: So this is it, here we go, the stage is ready. The only mistakes that can be 6.............................................now are our own. We've got great friends here. Friends that I've had for many years...We are food retailing but we are not a supermarket. We don't ever want to feel like a supermarket. Our people are not supermarket employees, and we're taking it forward to a greater marketplace. We could see 30, 40, 50 stores, pretty good, large-size format. The cafe is the soft opener, it's the first point of contact with what we do, and then you go into the supermarket within the store. As well as then another key part of our offering is the naturopathy area. We have yoga and massage, Pilates, et cetera. It's quite an unusual offering.

LUISA SACCOTELLI: And expensive to set up. So far, Cody and his partner, Sydneysider Brett Blundy, have sunk $20 million into the Macro concept.7)........................ costs are also three times the percentage of turnover as a normal supermarket. But the 8).................................. on investment are also much higher - the two Sydney stores turn over a combined $20 million a year 10)..................................................................................higher than the few per cent managed by the supermarkets.

PIERS CODY: You have to spend to get the 11).......................................................set and the return on it is very good. Turnover per metre, if that's some guide, we do very nicely, but we have to work it hard.

(englishbites)

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