Department Stores in Australia - Industry Market Research Report
Description
Department Stores in Australia
Department stores have long been a magnet for foot traffic and tourists, which is why the COVID-19 pandemic has disrupted retailers. Even before the outbreak, instore patronage was drying up, with wavering consumer sentiment and discretionary income pivoting spending towards lower-priced online sellers. Rising internet connections and rolling lockdowns have propelled online shopping activity and industry competition. But these headwinds have yielded some positive results, like a push to revise thwarting legacy systems and strategies and become more digital-led retailers. For this reason, industry revenue has modestly grown by an annualised 0.3% in revenue through the end of 2022-23, to $21.6 billion. This trend also includes an 8.2% upturn in revenue over the current year, resulting from post-pandemic pent-up spending - despite the cost of living challenges – and a bounce-back in tourism.
Department stores retail fabrics, soft goods, clothing, chinaware, glassware, housewares, perfumes, cosmetics, toiletries, furniture and household appliances. Goods are normally sold through separate instore departments. Department stores purchase products from wholesalers and manufacturers and onsell them to consumers. They also undertake activities including customer service, product merchandising, advertising, inventory control and cash handling.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares."
Department stores have long been a magnet for foot traffic and tourists, which is why the COVID-19 pandemic has disrupted retailers. Even before the outbreak, instore patronage was drying up, with wavering consumer sentiment and discretionary income pivoting spending towards lower-priced online sellers. Rising internet connections and rolling lockdowns have propelled online shopping activity and industry competition. But these headwinds have yielded some positive results, like a push to revise thwarting legacy systems and strategies and become more digital-led retailers. For this reason, industry revenue has modestly grown by an annualised 0.3% in revenue through the end of 2022-23, to $21.6 billion. This trend also includes an 8.2% upturn in revenue over the current year, resulting from post-pandemic pent-up spending - despite the cost of living challenges – and a bounce-back in tourism.
Department stores retail fabrics, soft goods, clothing, chinaware, glassware, housewares, perfumes, cosmetics, toiletries, furniture and household appliances. Goods are normally sold through separate instore departments. Department stores purchase products from wholesalers and manufacturers and onsell them to consumers. They also undertake activities including customer service, product merchandising, advertising, inventory control and cash handling.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares."
Table of Contents
48 Pages
ABOUT THIS INDUSTRY
Industry Definition
Main Activities
Similar Industries
Additional Resources
INDUSTRY AT A GLANCE
INDUSTRY PERFORMANCE
Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle
PRODUCTS & MARKETS
Supply Chain
Products & Services
Demand Determinants
Major Markets
International Trade
Business Locations
COMPETITIVE LANDSCAPE
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Basis of Competition
Barriers to Entry
Industry Globalization
MAJOR COMPANIES
OPERATING CONDITIONS
Capital Intensity
Technology & Systems
Revenue Volatility
Regulation & Policy
Industry Assistance
KEY STATISTICS
Industry Data
Annual Change
Key Ratios
JARGON & GLOSSARY
Pricing
Currency Rates
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