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Retail therapy for the good of our economy

Retail therapy for the good of our economy

With the retail sector being one of Australia’s largest employers, the industry will be central to the country’s recovery from the COVID-19 recession. It’s a sector that traditionally – and naturally – does well when consumers are doing well. When jobs are up and interest rates are down, people spend. When times are tough, purchasing habits take a hit.

What will be different coming out of this downturn to others is a new shopping landscape: where consumers now expect or need to make their purchases differently.

There are a range of options for retailers to consider as they revise and reshape their operations and business models to meet this changed demand – both within their organisations and outside.

Watch this webinar with our retail experts, as they discuss how retailers can respond to this new shopping environment, from optimising their operations both online and offline, as well as the Government incentives and other measures available to the sector.

Looking back to look forward

COVID-19 has only sped up changes that were already afoot in the industry. But retailers and consumers alike are changing the way they interact and operate. The tenancy mix has changed. We’ve seen a surge to online, and retailers meeting the demand by investing in their online operations. The Federal Government has done a good job in providing stimulus to both consumers and retail businesses to spend, although the recovery will not be an even one. But retailers are resilient, and consumers should be buoyed by the extra cash in their pockets and feel confident to spend. Rebuilding consumer confidence will be a long game played by both policymakers and retailers.

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