According to National Head of Retail & Consumer Products, Luke Ritchie, The explosion in online retail has been underlined by pureplay online businesses acquiring failing bricks-and-mortar retailers at bargain basement prices, only to relaunch them as online only operations.
The preliminary December 2020 retail figures from the ABS underline just how resilient the Australian retail sector has been throughout 2020.
For retailers, the Christmas period has always been make or break.
The economic health of the retail sector isn’t something that the Government can directly influence.
COVID-19 has changed the way we shop – perhaps forever. There is no retailer unaffected. But while many in the industry are experiencing hardships they might never bounce back from, it’s not all doom and gloom.
The coronavirus has turned retail on its head. Once we get through the pandemic restrictions, these five trends will drive retail over the coming years.
The shift to shopping online was already underway before COVID-19 struck. But the pandemic has unquestionably increased the pace of retail digital transformation
Restaurants are embracing ghost kitchens as a way of meeting the growing takeaway and home-delivery market without the cost of overheads for dine-in customers.
COVID-19 has decimated the retail landscape, to different degrees in different retail categories.
Any retailer which simply turns the lights back on and reverts to its traditional model post coronavirus is doomed
Every day has been like Christmas trading for essential retailers like Woolworths and Coles with significant supply and demand issues experienced in the past month – and not just for toilet paper.
While many retailers have opted to close their doors and wait out the storm, there are those that have pivoted and innovated to emerging customer demands – with sales for camping gear, exercise equipment, home entertainment and arts and crafts going through the roof.