Australia’s largest retail industry group, the Australian Retailers Association (ARA), and Australian-founded retail and payment platform, Afterpay, have entered a strategic partnership to help support, promote and future-proof Australia’s $325 billion retail sector.
The exclusive partnership will see two companies combine their unique knowledge and expertise to help inform and support Australian retail.
Over the next two years, the partnership will focus on joint initiatives designed to help future-proof the industry through shared thought leadership, provide tailored research insights, highlight the growing impact of social responsibility and growing importance of Millennials and Gen Z consumers, support the workforce through training and mentoring programs, as well as promote retail businesses through industry-wide promotional campaigns.
ARA CEO Paul Zahra said, “Retail is undergoing a profound transformation, with the COVID-19 pandemic bringing forward a decade’s worth of change and innovation. As a leader in retail payments and also one of Australia’s most innovative retail brands, Afterpay offers powerful insights, global benchmarking capabilities and important resources that will help us equip our retailers for the transformative years ahead.”
He added: “Afterpay will be a great resource to our Strategic Partnership Community, a passionate and committed group supporting our members, customers, employees and partners to recover, respond and re-imagine a thriving Australian Retail Industry.”
Afterpay co-founder Nick Molnar said, “As a homegrown Australian startup with a foundation in retail, we share the Australian Retailers Association’s optimism about, and investment in, a successful, long-term future for the sector here in Australia.
“This partnership is about drawing on our knowledge and expertise from across the consumer and retail spectrums to add to what the ARA already instinctively knows and understands so that together, we can provide tangible, valuable insights to Australian retailers and help position the sector for the future.”