Wesfarmers is trailing a new liquor concept store in attempts to turn around its Coles Liquor business.

Named ‘Liquor Market’, the store is located in the Melbourne suburb of Ringwood and will target consumers after quality, low-priced alcohol.

“Liquor Market offers customers market-leading value on quality wines, beers and spirits by using a low-cost operating model to pass on savings to shoppers,” a Coles spokesperson said.

Products on offer at Liquor Market include gold medal wines under $20 and other award winning spirits and beers from overseas. Liquor Market will also run in-store tastings, “meet the maker events”  and free masterclasses, similar to Wesfarmers free workshops held at its successful Bunnings hardware stores.

“We are excited to bring this new brand to life in our first trial store, and we will assess customer feedback on the new format before deciding whether to roll it out further,” the Coles spokesperson said.

Will Liquor Market be able to win over Dan Murphy customers?

The decision to test the Liquor Market concept comes at a time when Woolworths’ liquor chain, Dan Murphy’s, is leading the pack of Australia’s alcohol retailers.

Coles Liquor is currently undertaking a turnaround plan, closing 30 underperforming stores in Wesfarmers 2016 financial year.

More than 200 Wesfarmers Liquorland sites are set to receive a renewal in the 2017 with Wesfarmers reporting in its 2016 financial report that it will continue invest in value and range simplification across its liquor business in 2017.

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