$642 $m
Harvey Norman
An iconic Australian retailer of over 20 years, the Harvey Norman brand is famous for selling brand name electronics and homewares. Its distinctive “Go Harvey Go” jingle, interest free financing and charismatic founder Gerry Harvey are embedded in the Australian psyche. Nevertheless, a tough retail climate with poor consumer sentiment, increased online competition and price deflation in core AV and IT product categories have led to an overdependence on its franchisee model and property portfolio to generate revenue in the face of declining sales. That said, Harvey Norman is starting to embrace an experiential multichannel retail model under CEO Katie Paige, leveraging the brand’s local presence and sales expertise to build points of difference in the market. Promising signs, but the brand has a lot further to go to restore relevance with consumers in 2013 and beyond.