Bunnings MD, Michael Schneider, is reportedly embarking on a tech-centric tour of Israel, introducing executives to several VC and tech firms as it seeks to boost its cyber-security arsenal.
Reported by The Australian, the retailer views cyber-security as its next big opportunity, with its Israeli tour focused on security, robotics, online fraud detection, data analytics and artificial intelligence.
The news comes after parent company, Wesfarmers, lead senior executives across Germany for cutting-edge insights into DIY home improvement from Hornbach, Bauhaus and OBI.
As previously reported, the retailer has continued to ramp up its smart home portfolio, alongside the launch of its fully transactional e-commerce site by 2020.
Schneider claims Bunnings has spent millions of dollars sending staff on international trips to study retail, supply chain management and more over the last 25 years.
The hardware giant has admitted it’s coming to the digital age “a little bit later” than some other businesses, with its new “click and collect” offer launching in Melbourne.
Past tours reportedly urged Bunnings to pursue digital transformation, learnt from the likes of Google, Facebook, Adobe and Apple.
Israel is known to be a powerhouse of cyber-security capabilities globally, especially among local retail executives.
Reports claim there will also be a cyber and tech industry dinner for Bunnings in Tel Aviv, attended by Australian ambassador to Israel, Chris Cannon.
