Beyond the numbers: Explore the trends and ideas shaping Australian business. Listen now.
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Retail workers have been on the frontline of the pandemic since the beginning and much has been written about the day-to-day challenges that they face.
Sydney’s lockdown ended overnight, with midnight haircuts, gym sessions and early morning shopping queues highlighting the enormous relief felt across the city.
The roadmaps out of lockdown released by the NSW and Victorian state governments last week offer a welcome glimmer of hope for retailers.
Digital retail is more than just online shopping. The explosion in online retail throughout the pandemic period has perhaps distracted from the fact that retail activity remains 80% bricks-and-mortar.
The post-pandemic retail recovery has officially stalled. This week the Australian Bureau of Statistics published the preliminary headline retail sales data for the month of June.
Clothing rental is taking off in Australia, with designers and retailers alike getting into the action with new apps catering for borrowing and renting clothing rather than buying.
Department stores have long been a popular hub for convenience, variety and discovery. However, the explosion in online shopping, continued expansion of floorspace and now the challenges of Covid-19 have seriously challenged their business model.
Australian retail sales grew 2.3% against the last year in March 2021, with several media reports highlighting the softening of retail demand. But the March headline growth number is misleading, given the 10% surge in March 2020 as panic buying took hold.
The team at Grant Thornton worked closely with the core HR and project delivery team at a major retail group to establish a process by which the best system solution could be selected, and to develop an investment business case for the Board.
The Grant Thornton team worked with a major Australian retailer to instigate an end-to-end process alignment and profitability improvement program which we called FACTORY-TO-CUSTOMER.
A leading Australian retailer had not formally reviewed its supplier trading terms from a corporate end-to-end view for several years and their trading income was not growing in line with sales.
The ATO has recently announced they are reviewing a number of activities that involve alcohol entering the Australian domestic market for consumption without payment of the required amount of excise duty.
