Is Morrison's going down the pan?
They've spent a lot of money on using Take That's music and getting Alan Hansen in their adverts, but Morrison's are not doing very well at all. Could they end up in Deathwatch?
The company is still Britain's fourth most popular grocer, but sales have been falling steadily and they're worsening. So what seems to be the problem?
Well, Aldi and Lidl are currently stealing a march on absolutely everybody, but Morrison's is also hamstrung by a lack of online presence. They can't compete with price and they can't compete with convenience.
Tesco, Asda and Sainsbury's still lead the way in terms of revenue and everyone below Morrison's are hatching up great ways of creating loyal customers, be it through price or exclusivity. Morrison's as a brand is neither here nor there.
The forecast for the company isn't great, with analysts marking Morrison's down from last year. If they don't buck their ideas up, could we be looking at one of the biggest companies going to the wall? Or is this just a blip for a tired business?
TOPICS: High Street News