The continued globalisation of Australian retail and what it means for small to medium businesses - Deloitte Private Blog | Deloitte Australia has been saved
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The 2015 Global Powers of Retailing uncovered some interesting trends for private retailers and Australian businesses that operate across the retail sector. 37 of the world’s top 250 retailers are now operating in Australia (up from 30 the previous year) and the trend of global retailers establishing a presence in Australia is expected to continue in 2015.
Last year, we saw the likes of H&M, Fast Retailing (Uniqlo), Forever 21 and Sephora enter the Australian market with bricks and mortar stores as well as the reinvigoration of equity transactions and investees coming from multiple sources. While global interest in the Australian market is not new, the increased interest from Asia in small and medium sized consumer businesses has most definitely escalated and provides family and privately owned enterprises with the ability to realise their investments at more reasonable earnings multiples once again.
With a weakening Australian dollar and ever increasing competitive pressures, we expect to see further interest by overseas retailers in the Australian retail market. With this brings significant challenges and increased competition. The ability to innovate, drive improved processes and to connect with the consumer will be critical in order to remain competitive.
Consumers have better global reach than ever before and increasingly expect more for less. Small and medium sized retailers need to clearly articulate their unique offering to the market and to devise new strategies for creating communities that are loyal to the brand.
The 2015 Global Powers of Retailing explores these issues in more depth, as well as the five major retail trends currently impacting the marketplace.
With more than 20 years’ experience working in the UK and Australia providing assurance and advisory services to a range of clients, David combines his deep insight into the retail sector dynamics with consumer and market trends to generate opportunities for growth. David specialises in the retail sector and leads Deloitte’s National Retail, Wholesale and Distribution sector group. Working closely with Deloitte Australia’s global and Asia Pacific teams, David directs all of the firm’s key retail sector activities to provide perspectives and solutions that enable growth and success for our retail clients.