Limited competition is one of the primary reasons investors and market watchers are keen on the hardware powerhouse, with only Metcash-owned Mitre 10 challenging Bunnings in the big-box space. Fresh attempts to tussle with Bunnings, such as Woolworths' Masters chain , have also failed. Its unparalleled market position has also helped Bunnings entrench its position among consumers, with the business regularly topping lists of the country's "most-trusted" brands.
Its marketing, with chatty TV ads and a familiar "lowest prices" slogan, also plays a role. The business was later sold for a single British pound. The move was a scorch mark on Bunnings' largely unblemished record and has likely scared management off considering any further international expansion in the near term.
This has led to concerns among some investors that Wesfarmers may struggle to grow Bunnings in the years ahead, with fears it has saturated the market with little room for significant store expansion.
To counter this, Bunnings has switched its focus towards other segments of the hardware industry, hoping to increase its business-to-business customers through an expansion of its trades segment. In April, despite concerns from the competition regulator, Bunnings completed its acquisition of specialist tools retailer Adelaide Tools in an effort to get a leg up with trade customers.
Bunnings' managing director Mike Schneider. Credit: Eddie Jim. Bunnings is also looking to improve its online sales, with the company admitting it was slow to establish an online channel, which launched only this year.
As of Wednesday, Bunnings shoppers in Victoria face a six-week wait until stores reopen, and an even longer wait until sausage sizzles are back on the menu. For now, they'll have to do with online orders and home-fried snags.
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The iconic Bunnings sausage sizzle is a ritual for most shoppers.
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