Independent retail is ‘alive and well’

The Australian Bureau of Statistics (ABS) reported a 0.3% fall in retail revenue in January 2020, seasonally adjusted, however new data shows independent retailers recorded 2.3% year-on-year growth.

The data from POS and retail management software company, Vend, was collected from 2,244 retailers on its platform, with Tasmania retailers recording the highest revenue uplift at 13%, followed by Western Australia (8.8%), Northern Territory (3%) and Victoria (1.4%).

Home and giftware retailers were the best performing segment, recording a 7.05% revenue increase nationwide, while New South Wales recorded growth of 17.4%. In WA, fashion retailers enjoyed the most growth at 28%, compared to 2% for NSW and 1.8% for VIC.

Vend managing director – APAC, Dave Scheine said mediocre retail continues to struggle in Australia, as we have seen in companies like Jeanswest and Harris Scarfe, but the independent retails sector is ‘alive and well’.

“What we have seen through the eyes of our retail customers is that shoppers are still heading to physical stores, not because they want to ‘buy stuff’ but because they want to get experiences that they won’t find anywhere else. Independent retailers are particularly good at curating their product offerings and creating rich in-store experiences, while arming themselves with the right tools to streamline their operations and better serve their customers to drive more sales and profits.”