SMES TAKE RETAIL MARKET SHARE AS CONSUMERS CHOOSE PERSONALISATION
Written on the 11 January 2017 by Lin Evlin
IN a battle for the hearts and wallets of Australian consumers, it appears that small and medium retail businesses are leading the way following strong sales performances during December, particularly in the hospitality sector.
"It seems David is beating Goliath when it comes to the hearts and minds of Aussie consumers, as personalised hospitality beats the often homogenous and soulless experience of some large chains," Schenkel says.
The Australian Retailers Association and Roy Morgan Research predicted late last year that Christmas spend was to hit the $48.1 billion mark, a 2.3 per cent forecasted jump in December sales from the same period the previous year.
"When looking at the statistics, what stood out strongly was that fast food, hardware and clothing/footwear has been doing particularly well. A sign that discretionary spend is on the rise," says Zimmerman.
"One concern however is food. It is hovering at around only plus two per cent (year on year). If you take into account the fact that food, which represents about 40 per cent of the retail spend, is under quite a bit of pressure to keep prices low, then in actual fact, the retail sector is not looking bad at all."