Newspaper article The Chronicle (Toowoomba, Australia)

Ten Years of Top Retail Trading

Newspaper article The Chronicle (Toowoomba, Australia)

Ten Years of Top Retail Trading

Article excerpt

THE first weekend The Good Guys opened their doors, 10 years ago, there was no advertising, no sign out the front, no identifying artwork and yet, amazingly, people came and bought stuff and have been doing so ever since.

So where did the Good Guys come from?

Up until the time I answered a random advertisement in the Chronicle, I'd never heard of them, but I quickly found out that it was by no means a flash in the pan company.

In 1952, Ian Muir founded the Muir Electrical Company (MEC) and over the next 30 years he opened a number of electrical retail outlets throughout Victoria which focused on large domestic appliances.

At some point, he realised he'd grown the business as much as he could and after a series of negotiations the first joint-venture partnership emerged and remains the basis for current joint ventures.

The name Good Guys was adopted in the 1990s and the brand has grown stronger since then.

MEC and its heritage are the reason for the Good Guys success. Ian's son Andrew is now the chairman and today MEC is still a private, family owned company.

The electrical industry and retail at large is hard work to say the least.

Healthy competition, deflation and the advent of online shopping all mean that to stay in the game, you simply can't rest on your laurels and think that just because something once was, it will always be.

Because of this, we are continually searching for ways to improve and set ourselves apart.

Here's an example of deflation the electrical appliance industry faces: 10 years ago, if you were in the market for a 60 inch plasma TV, it would have been a special order costing around $30,000, today, it's a mainstream product and can be bought for less than $1500.

Though this is an extreme example, average prices have steadily fallen in this industry over the past eight years. …

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