Changing consumer behaviour and technological disruption is a recurring theme in the retail market for 2019. As many businesses have learned to adapt, we still find business who are resistant to the change which increases the business challenges they face. We summarise key trends that influence the Australian retail sector, below.
The Australian retail sector still largely depends on disruptive forces, such as changing consumer spending patterns and the influx of foreign companies that focus on formulating new approaches in retailing.
The sector continues to face disruption and the rising influx of foreign companies has not only changed the landscape, however also consumer preferences. This significant shift in consumer preferences continues primarily to be due to the advancements in technology.
Agility and multiplicity of delivery platforms is required for retailers to move up in this sector. This has challenged (and will continue to) non-responsive retailers.
The Retail sector is one of Australia’s largest employers and will continue to offer career opportunities for many. As the sector moves to greater investment and focuses on digital, e-commerce and in-store experience, we are seeing a significant shift to the demand for our talent pools in these areas. However, Retailers still need the best talent across all disciplines to stay future fit, and they continue to hire for key roles!