The Wesfarmers-owned Bunnings which holds a large market share of hardware and horticulture sales in Australia and has recently moved into the kitchen and appliance markets, has outlined its strategy for 2025.

Operating under the slogan “Better Together”, its 2025 blueprint – shared with staff and suppliers recently – seeks to address that perception of alleged mistreatment of some suppliers that surfaced during a senate enquiry earlier this year.

“Later this month we’ll celebrate 30 years since the opening of our first warehouse store in Sunshine, Victoria. A lot’s changed over that time and there is plenty that has stayed the same, but one consistent part has been our relationship and shared success with our suppliers and partners,” wrote Bunnings chief customer officer Rachael McVitty and chief operating officer Ryan Baker in a letter to suppliers.

“We have also kept a focus on deeper trust and partnerships with our suppliers. So many of our suppliers have longstanding relationships that have seen mutual growth over decades, and we don’t ever take that for granted.”

Bunnings

The letter noted that the company met with 1,200 team members last month to launch the plan and added that the strategy will result in outputs that are suited to the individual needs of different teams.

There will also be a focus on reducing injuries, focusing on how products are packaged and designed to improve safety considerations.

Bunnings is also reworking its store layouts to take in new categories such as pets which it introduced last year and its expanded home cleaning offerings. Bringing that decision back to one that centres around suppliers, the letter notes, “Better use of space or seamless customer offers across all channels will only work if Bunnings share that information and decision process with suppliers.”

The new strategy further aims to deepen current supplier links and focus on the better use of store space, improved stock flow and productivity, according to The Australian.

There is a focus on offering a more seamless experience to shoppers switching between its online and in-store mediums too.

Later this month, Wesfarmers will report its full-year results with Bunnings expected to shoulder the bulk of sales and earnings.

Analysts expected Wesfarmers to post annual revenue of around $43.85bn and earnings of $3.75bn. Bunnings is believed to contribute $18.86bn of those group sales and $2.246bn of the conglomerate’s earnings.

In February, Bunnings announced its half-yearly results for the six-month period ending December 31, 2023. Earnings increased 3.1 per cent excluding net property contribution, a four-year compound annual growth rate of 8.8 per cent, while operating revenue increased 1.7 per cent to $9,963 million.

Bunnings has more than 55,000 employees across its store network and which operates from around 387 hardware locations.