Dick Smith. Another Large Retailer fail on TM

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Googlybear
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Dick Smith. Another Large Retailer fail on TM

Post by Googlybear » Wed Dec 24, 2014 10:40 pm

i reported the (now disabled) warehouse adventure on trademe on this thread.
for almost their entire TM account history they had a rating of around 92%

Now TM has wowed dick smith into `coming on board`
http://www.trademe.co.nz/Members/Listin ... er=5235742

Less than a month of trading and their reputation is

http://www.trademe.co.nz/Members/Feedba ... er=5235742
110 positive feedbacks. 103 are from individual members, and count towards the final rating.
4 neutral feedbacks.
7 negative feedbacks. 7 are from individual members, and count towards the final rating
.

http://www.trademe.co.nz/Browse/Listing ... =822417417
93.6% positive feedback
As they are paying the monthly store fee, TM are once again willing to ignore the 98% FB minimum store Requirement

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digidog
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Re: Dick Smith. Another Large Retailer fail on TM

Post by digidog » Thu Dec 25, 2014 8:18 pm

You'd expect that a large retailer like Dick Smith who are used to processing online orders would do a lot better than this. The two main complaints are slow delivery and no response to emails. DS need to put one person in charge of TM communications as they've only sold 120 items in three months. Their standard response to all negative/neutral feedback is:
Hi (trader name) we are very sorry that your experience with our Trade Me store has not been a good one. We've had a huge amount of positive feedback from customers about our new partnership with Trade Me and so far over 98% of orders have been without any issues. Our goal is 100% and we are determined to work with you to ensure you receive your order ASAP
The "98% positive feedback" they refer to is disproved by their actual 93.9% rating.

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Googlybear
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Re: Dick Smith. Another Large Retailer fail on TM

Post by Googlybear » Sat Jan 24, 2015 5:17 am

Current update
309 positive feedbacks. 287 are from individual members, and count towards the final rating.
9 neutral feedbacks.
23 negative feedbacks. 21 are from individual members, and count towards the final rating.
i predict a banning by the end of febuary

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Re: Dick Smith. Another Large Retailer fail on TM

Post by Googlybear » Sat Apr 11, 2015 12:24 pm

http://www.trademe.co.nz/electronics-ph ... 490463.htm
93.3% positive feedback
any joe blogs trader would have had their account closed by TM long ago but if your a large retailer who is giving TM a small fortune via high volume listing fees then clearly different rules apply

http://www.trademe.co.nz/stores/dicksmith/feedback

576 positive feedbacks. 546 are from individual members, and count towards the final rating.
23 neutral feedbacks.
43 negative feedbacks. 39 are from individual members, and count towards the final rating
.
colin13 (660 660 positive feedback) Address Verified Jul 2014 10/4/15
dicksmith was the seller (#863801116)
2/10 for delivery (11 days).
2/10 for communication (1 terse reply to 5 emails).
2/10 for a most unsatisfying customer service experience.
8/10 for the product (down graded from 10 in case any form of follow up service will be required).
phoebe5 (93 93 positive feedback) 9/4/15
dicksmith was the seller (#861444874)
The auction stated delivery within 3-5 workings days. Ten days later I emailed as nothing had arrived. Heard nothing. Emailed again and was informed they did not have the product. Why is DSE selling items they do not have and taking money off customers, then ignoring customer enquiries about it? I finally got a refund 17 days after paying. DSE had the use of my money all that time and never had the goods to sell in the first place. I think this is dishonest. Absolutely hopeless!
griffy2 (65 65 positive feedback) 28/3/15
dicksmith was the seller (#854842645)
Item not available after purchase

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Re: Dick Smith. Another Large Retailer fail on TM

Post by digidog » Tue Jan 05, 2016 10:13 pm

The collapse of Dick Smith has been widely reported including the fact that gift vouchers will not be redeemed. So that $200 voucher grandma bought you for xmas is now worth nothing... I find that morally bankrupt.

Investors should take a close look at investment firm Anchorage Capital who bought Dick Smith from Woolworths in 2011 for $115 million, with just a $20m deposit, then floated it with a capitalisation of $520 million less than two years later. The company was never worth that figure and commentators are suggesting that financial jiggery pokery (refer "What went wrong?" panel - bottom of page) -- smoke and mirrors accounting -- was used to inflate the company's value.

Googlybear pointed out in April that Dick Smith's foray into TradeMe sales didn't start well, and it got worse from there.
dicksmith-feedback.png
dicksmith-feedback.png (18.26 KiB) Viewed 2080 times
To operate a TM store you need to maintain "98% or greater positive feedback", but DS quickly dropped below that and never recovered. I wonder how many TM users have ended up out of pocket as a result of TM not policing their own policies? At least 16 red faces have appeared since the start of December, and that number is likely to increase as non-deliveries continue.

Maybe it's time for TradeMe to revisit their store policies. For a start, they could enforce their own rules in a timely manner as soon as any store starts to fail.

Update: Forager Funds Management aren't mincing words.
Sorry Dick Smith investors, you’ve been had.

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Re: Dick Smith. Another Large Retailer fail on TM

Post by Foggyone » Wed Jan 06, 2016 6:04 am

I've been a customer for years (always in store, never on line). It's been obvious for some time things were unravelling, and when I brought a $900 laptop just before Christmas for $369 (old stock, but still a good laptop) it couldn't continue.

Been in the store yesterday and shelves looking very depleted, and staff look extra despondent. Hope the staff get their entitlements, but I'm doubtful.

As regards the gift vouchers, if these were sold when the directors knew the outfit was insolvent they may face legal ramifications.
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Re: Dick Smith. Another Large Retailer fail on TM

Post by digidog » Thu Feb 25, 2016 4:20 am

No buyer was found so all 363 Dick Smith stores in Australia and New Zealand are to be closed within eight weeks and the 430 NZ staff will lose their jobs.

While DSE stopped listing on TM at some point, anyone who won an auction up until 3 January and paid will lose their money. That's left a number of unhappy customers.

DSE's current feedback is only 91.1% positive with 122 negs. Googlybear started this thread back in December 2014. I'd suggest that if TradeMe had enforced their own rule that TM stores must maintain a "98% or greater positive feedback" when problems first became apparent, then fewer people would have been ripped off via that channel.

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