There’s been a 41% increase year-on-year in flight bookings in the retail sector from January to September 2024, according to an analysis by Stage and Screen – a boutique travel management subsidiary of Flight Centre Travel Group – suggesting the industry has been planning for growth, connecting with employees and networking with suppliers and customers.
The growth in travel also points to the sector’s significant and growing physical footprint across Australia. A recent KPMG report found that around two in five (39%) retailers who operate physical stores plan to increase the number of stores in the coming year. The physical scale of the industry points to a requirement among its businesses to conduct more face-to-face meetings and events than other industries.
The Stage and Screen analysis also revealed that retail trips this year averaged five days, suggesting that businesses strategically organise their travel to maximise their return on investment.
Stage and Screen general manager, Adam Moon said, “With consumer confidence on the rise, it’s crucial for retailers to stay ahead of emerging trends. Attending buying trips and trade shows is essential for staying at the forefront of industry product developments and anticipating future trends.
“Additionally, in-person meetings and connections are important in the retail industry, regardless of economic conditions or their sales performance. Retailers know they need to be on the ground at their stores – whether it’s for store walkthroughs, merchandising refreshes, training teams and customer events – while also representing their brand at key trade shows and building relationships with suppliers.”
The Stage and Screen analysis also reveals retailers travelled most in February this year, followed by high flight booking volumes in March and May (tied), then August and July. Sydney is the most popular travel destination in the sector, followed by Melbourne, Brisbane, Perth, Adelaide and Canberra. Looking overseas, New Zealand has been the top destination this year, followed by China, Hong Kong, and then the United Kingdom, Singapore, the United States and Thailand.
“Retailers are also saying yes to taking part in more trade shows and conferences, locally and overseas, with a recent survey showing this was the reason for 54% of Australian and New Zealand business travel,” Moon said.
“Taking part in international events, visiting overseas suppliers, and scoping for new markets makes sense for retailers keen to stay competitive and responsive to new trends. So, while it may look like the retail sector has been sluggish during the current cost-of-living crisis, there’s a lot going on behind the scenes that’s bolstering that travel momentum.”