Australia Retail Sector - Growth, Trends and Forecast (2020 - 2025)
The Australia Retail Market Is Segmented On The Basis Of Product Category, Distribution Channel, and Market Dynamics - Growth, Trends and Forecast (2019 - 2024)
ABOUT THIS REPORT
Scope of the Report
Key Market Trends
TABLE OF CONTENTS
Need a report that reflects how COVID-19 has impacted this market and its growth?
Australia's Retail Sales grew 3.7 % Y-o-Y in Sep 2018, compared with a 3.7 % increase in the previous month. This sector is segmented on the basis of product category, distribution channel, and market dynamics.
Australia is one of the most urbanized societies in the world, with about 24 million people (90% of the population) living in the urban areas of Sydney, Melbourne, Adelaide, Brisbane, and Perth, as well as in smaller cities and towns within 100 miles of the ocean.
Australia registered a significantly high per capita GDP, value at about USD 50,000. Furthermore, it recorded the second highest average wealth per adult.
The Australian retail sector witnessed a positive growth, despite significantly low increase in wages and rising household debt. Strong growth registered by the housing market, supported by low interest rates and increase in household credit, and impacted the consumer spending pattern.
Americans and Australians have a strong relationship that spans the history of both nations. Australia and the United States share a common heritage, culture and language and have supported each other in every major international crisis of the past century
Scope of the Report
An in-depth analysis of the Australian retail sector, along with an overview of the parent market, regional markets, emerging trends, and market dynamics.
Report scope can be customized per your requirements. Click here.
Key Market Trends
Foreign Companies are Formulating New Approaches in Retailing
The future of the Australian retail sectors depends on disruptive forces, such as changing consumer spending patterns and influx of foreign companies that focus on formulating new approaches in retailing.
Furthermore, the sector is facing disruption. The rising influx of foreign companies has not only changed the retail landscape, but also the consumer preferences. There is a significant shift in consumer preferences, primarily due to the advancements in technology.
The Australian retail sector requires agility and multiplicity of delivery platforms, which can identify non-responsive retailers.
The sector registered a growth rate of 5%, 3%, and 2.6% in New South Wales, Victoria, and South Australia, respectively.
The Australian economy’s growth was majorly driven by private investments in the mining and housing markets, with core inflation at 1.75%, which is significant lower than the target formulated by the Reserve Bank.
To understand key trends, Download Sample Report
Significant Growth Registered by the Apparel and Footwear Market
The Australian apparel and footwear market was valued at USD XX million in 2018, ad is expected to register a CAGR of 3.0%, annually.
The Women and Girl Apparel segment is the major revenue contributor to the market, and is expected to be valued at USD XX million in 2019.
The sportswear segment witnessed the strongest growth, driven by the athleisure trend. Due to this trend, a large number of consumers are opting active wear in the non-sports category.
The athleisure trend, especially prevalent in the womenswear category, is driving the demand for several categories, such as leggings and sport footwear.
Internet retailing emerged as a prominent channel among apparel and footwear retailers.
In 2017, this channel witnessed a significant increase in its value share across the apparel and footwear categories. This was primarily driven by high mobile penetration in Australia, along with a significant shift toward the online distribution channel.
To understand geography trends, Download Sample Report.
The report provides an overview of major international players operating in the Australian retail sector. Currently, some of the major players are dominating the sector, in terms of revenue share. few. However, minor companies (mid-size and small) companies are focusing on improving their presence by securing new contracts and entering into new markets.