Thousands of bargain hunters lined up for Panda Mart as it opened its first Australian store in Melbourne's southeast. Branded as 'Temu in real life,' the store offers super cheap items.
For more, retail expert Gary Mortimer joins.
Now to the new discount store sending Melbourne shoppers into a bit of a frenzy. Pandom Mart, branded as Tamu in real life, has just opened its first Aussie shop in the city Southeast. I'm bring twenty eight thousand super cheap items including homewares, cleaning supplies and makeup. Since Thursday, it's seen thousands of bargain hunters line up for hours and strip it shelves. Bear Even police were called in to help control the crowds. But his pandom Mart really worth the hype for his take, retail expert Gary Mortimer joins me live in Brisbane. Good morning. Firstly, what is Pandomrt. Where's it come from?
Yeah, so a pandamart South African company. It's only relatively news so it's been around for about fifteen years, but growing very quickly across the globe. Lots of stores, about one hundred stores now in South Africa, Central America, Southern South America and also in New Zealand and now in Melbourne. Openly in Cranburne this week.
We have a lot of discount stores in Australia. Why is this so big?
Yes, I guess it's often referred to as the physical entity of team moves. So we think about kmartin big w pretty big discount department stores here in Australia. Below that on a pricing structure, you might have reject Shop, Silly Sollies, maybe that two dollars shop, the two dollar shop. This is an extension of that so very very low hyper discounted products in warehouse style retail formats big big Bunnings and Masters chains.
Right, I noticed their New Zealand stores are being investigated for supplying products that may fail safety standards. How much of a concern is that?
Yeah, so I guess this is always a bit of a concern, certainly by beware a team who got into strife for a couple of times by bringing in products that maybe didn't meet Australian safety standards. So the New Zealand Commerce Commission, but like the AH Triple c here in Australia investigating Panda stores or pandom Art in New Zealand for products that don't meet New Zealand safety stand So buy bware of you're buying really really cheap products that aren't branded products, just make sure that they team Australian safety standards.
So Ca'm sure our regulators will be on to them. Thank you Gary. Here's David