Wednesday 2 March 2022
The Australian Retailers Association (ARA) has today released the inaugural ARA Retail Review 2022 - an annual research report which consolidates the insights from the country's leading retail experts on the performance and outlook of Australia's retail industry.
The comprehensive 80-page report sets the agenda for 2022 retail issues - from industry performance to sustainability and e-commerce to consumer trends.
ARA CEO Paul Zahra said there's an enormous amount of research and insights that exist on the current and future trends for retail, but this data has never been brought together in this way before.
"The ARA Retail Review 2022 creates the first unified view of the sector. This is a valuable resource for retail businesses and will better inform governments and other stakeholders on the challenges and opportunities that lie ahead for the industry," Mr Zahra said.
Contributor comments include:
"Higher price inflation, rising wage costs and the reallocation of consumer spending are likely to be the most important issues over the next 12 months." MST Marquee
"As we head into 2022 with a level of caution there is one thing we can be certain of, the pace of change in the retail market is quicker than we've ever seen before and retailers need to be agile and brave to stay ahead." Deloitte
"The pandemic heralded a new era for retail with consumers embracing digital channels to engage with their favourite brands from retailer apps and websites to online marketplaces, driving record-breaking online sales." Salesforce
"COVID-19, now almost in its third year, has continued to impact us all, changing our daily lives and routines, especially with regards to how we shop for retail goods." Mastercard
"This year the oldest Gen Zers turn 25 - they are breaking out into the world and making their presence felt. Having spent some of their formative years in truly unique circumstances, it is already clear that their expectations and behaviour will be unlike that of their predecessor." Afterpay
"The resilience and passion small business owners have shown over the past couple of years has resounded across the nation. No one needs to tell operators how challenging the fluctuating conditions continue to be - they're living and breathing it every day." American Express
"Rent has always been one of the major overheads for business. And whilst many industries are downsizing space in favour of remote working in a post-pandemic era, many retailers remain burdened with long legacy lease portfolios that they no longer need, nor can afford." Hitch Advisory
"Customers are continuing to demand alternative ways to transact, from digital payments, Scan&Go, and now the emergence of Facial Recognition Payment options." QUT
"Competitive returns and low fees have always been important, but we also know our members want their money invested for the good of society." Rest
"A category once marked by consumption and convenience is being forced to refocus on essentials and sustainables." Fabric and TBWASydney
Mr Zahra said: "The ARA has harnessed the expertise from our growing network of partners to detail the powerful shift in the way people live, work and purchase goods and services, along with expert commentary on the challenges and opportunities that lie ahead for retail in the post-Covid recovery.
"The report taps into a number of areas from global retail trends, technology and innovation through to leasing and how businesses are strengthening their focus on sustainability. The ARA thanks its network of partners and experts who've contributed to the Retail Review which serves as an invaluable go-to resource for retail research and insights."
The full list of ARA Retail Review contributors and their insights can be found below:
Industry performance
Retail sector performance in 2022 - MST Marquee
Global retail trends for 2022 - Deloitte
Australian retail sales - Mastercard Australia
Online and e-Commerce
The new shopper profiles - Australia Post
A new era for retail: future of the store - Salesforce
State of Leasing
State of leasing in Australian retail - Hitch Advisory
Reputation
Reputation of Retail - The Reptrak Company
Consumer Trends
Emerging trends - QUT
Predicting consumer trends is about exploring the unpredictable - Retail Directions
Gen Z has arrived - Afterpay
Our two-speed recovery - Roy Morgan
Small Business
Backing small business agility and growth - American Express
Risk
Risk mitigation for retailers in 2022 - Hitch Advisory
Sustainability
Luxury's next great chapter: Lifecycles - Fabric and TBWASydney
Ethical investment - Rest
