UK Company WHSmith who has over 60 stores in Australia has moved to close down more stores as the business struggles to generate new revenue from high street locations.
In 2024, the business that sells a large range of consumer electronic goods in particular accessories closed 13,479 stores permanently this was up 28% from 2023, the Company also owns Inmotion which sells Bose, Sony, JBL, Logitech and a multitude of CE products.
At this stage it’s not known whether any Australian stores will be affected by their latest purge.
WHSmith stores can be found in international airports, railway stations and universities around Australia.
The Company that trades as WHSmith, InMotion, Gadgetshop and Zoodle, announced overnight that they plan to close an additional 17 stores across the UK in the coming months, as part of its ongoing restructuring strategy.
The latest round will take place between now and May, following a shift in WHSmith’s focus, as it looks to streamline operations and shift its footprint to more profitable locations.
In 2023, CEO Carl Cowling confirmed that WHSmith would no longer pursue growth in the UK high street sector, instead the business is trying to expand into International markets, they are also opening up new revenue channels with the roll out of instore advertising.
Late last year the Company opened a new operation at the Gold Coast Airport, a highlight of the store is the gourmet providore, crafted in collaboration with Donna Harrison, owner of Gold Coast brand Golosi Food Emporium.
The store that is now selling CE accessories and smartphones and other CE Products at the airport has also moved to open that Long Shot Café & Bar, that also sells local wines and craft beers from Balter and Stone and Wood.
Currently the business that is prioritising growth in travel locations such as airports, rail stations, and overseas markets over high street or shopping mall locations.
Over half of WHSmith’s UK stores are now in travel locations.
In the USA the Company has created what it says is the first travel-focused, in-store Retail Media Network (RMN).
The new in store display network will enable advertisers to connect with consumers across the company’s 347+ locations in the US and Canada, including stores at airports, rail stations and resorts.
The launch comes as in-store retail media spend is predicted to reach US$1.06 billion by 2028.
ChannelNews understands that several retailers in Australia are currently investigating they returns they would get from an in store TV display and large screen network.
Unlike other travel retail media networks, WHS Media combines in-store and off-site campaigns with data-driven insights to engage with approximately 3 million business and leisure travellers passing through US airports daily.
