Current Situation and Future Development of Australian Retail Industry

Abstract

These years, traditional Australian retailers have gone through a hard time threatened by domestic online retailers, and the sales of traditional retailers have been declined per annual over the past five years and only forecast to improve slightly over the next five years. At the same time, the continuous propagation of COVID-19, and the relationship between retailers and customers further exacerbates the crisis. So to have a full understanding of the current circumstance of Australian traditional retailers, in this paper, we will firstly analyze the retail industry as a whole including its features and current bottlenecks and then detailed reasons of current bottlenecks will be showed. We will also put forward targeted development strategy for the traditional retail industry in Australia.