Retail Sector of Australia: History, Trends, and Marketing Strategies

This report evaluates the history, trends, and marketing strategies of the retail sector in Australia. It discusses the growth of the sector, the impact of the pandemic, and the relationship between marketing strategy and organisation or product or service.

Report
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TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
MAIN BODY..................................................................................................................................3
Conclusion.......................................................................................................................................5
REFERENCES................................................................................................................................6
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INTRODUCTION
This report has discussed about the retail sector of Australia. Which is one of the fastest growing
industry. Further it has evaluated brief history of the sector, trends and relationship between
marketing strategy and organisation or product or service.
MAIN BODY
History of market in Australia, its size, approach and trends, Retail industry in Australia is
one of the old rest industry sectors and also contributing majorly in increasing the economic
development of the country (Lewis, Downes Verghese and Young, 2017). Within the year 2004-
2019, this sector has marked tremendous growth. So that is why this sector is also called as the
highest growth sector. After the pandemic hit the country, it has observed that this sector has
witnessed major reduction. Due to lockdown and social distancing people have restricted
themselves from shopping and everything.
The scope of this report is to provide comprehensive evaluation of the Australian retail
market. Australian retail sector consists of food and beverages, clothing, footwear, accessories,
household and personal care, electronic appliances, toys, furniture etc. and there is various
distribution channel available in the market which are departmental store, supermarkets,
especially store, online option, convenience stores etc.
Trends of the market, despite of pandemic the growth in the food and beverage has increased in
the year 2020. It is because food and beverage are the necessity and people cannot survive
without necessity. That is why consumers cut on other expenses but they also keep store of food
and beverages (Gonda and et.al., 2020). Along with food sector household care products which
are laundry care products, floor cleaners etc has also attained higher growth in the year 2020. It
is because hygiene has become important thing during pandemic so it is important for the people
to keep their floor and clothes neat and clean. Whereas clothing and footwear sector which was
always the growing sector has declined with rapid speed (Robinson and et.al., 2018). The reason
behind this is clothing or footwear or any other thing is not the necessity like food is.
Relationship between marketing strategy, social media, public relation etc for the industry and
its organisation, it can be said that in Australia online retailing is one of the fastest growing
industry as the e commerce shoppers in the country is increasing every day. So, the craze of
online shopping especially in retail sector is highly increasing. In the year 2020 when
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government has announced covid 19 and lockdown, especially at that time the online sale has
increased. It so because people are restricted to move out so that is why they ordered everything
online only. Those people have also started ordering online who has never placed online order
ever before (de Vass, Shee and Miah, 2020). Ecommerce have brought many benefits with them
which are payment gateways, fast delivery, same day delivery etc. all such benefits consumers
did not get ever before. The online trend will continue evolving and even many retailers have
also started to put their complete focus on online distribution and digital payment facilities. As
the retail industry is continuously growing and it has witnessed that many organisations have
started joining this industry by seeing its potential. There are many small retail outlets which are
replaced by big retail supermarkets, hypermarkets etc. it has even forecasted that this will grow
continuously and significantly. In the year 2021 it has observed that one of the famous business
Wesfarmers retail businesses have started growing their business to great extent.
As the retail industry is evolving along with that modern marketing techniques have also started
increasing. Modern marketing techniques like digital marketing, social media marketing,
advertising through online channels, public relations etc. digital marketing is highly responsible
for the growth of this industry. It can be said that online marketing options is blessing for this
industry. Many retail companies have started advertising their products and services using social
media platforms. Users of social media platforms are increasing everyday because the users are
increasing so it is providing help to the company to target their potential audiences. Social media
also have various new features which can help company to get connected with their audiences
easily (Jie and Gengatharen, 2019).
Organisations have also started their own website through which customers can purchase the
products online and can make online payment as well. As this website directs customers towards
easy payment gateway options. Website is the online business identity and it also helps in
improving company’s reputation in the market. Now it has became necessity for the company to
present themselves on online platforms so that they can generate online sales also along with
offline sales. Public relations have becoming important day by day and in maintaining good
public relations, social media platforms are also helping companies. When company have good
public relation then they can enjoy good sales and which will help them in generating higher
revenue (Mewburn, Grant Suominen and Kizimchuk, 2020). Retail sector have direct
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relationship with marketing strategies because marketing can help this industry to great extent or
great level.
Conclusion
Through this report it can be concluded that retail sector in Australia is one of the most important
sectors because they contribute in the economy of the country which means that they help in the
economic development. Retail sector have many companies which deals with food, clothing,
footwear, accessories, fragrances, grocery etc. after covid crisis this industry has witnessed major
growth because food and beverage is the necessity for the people so that is why other sector have
incurred decline but this sector have witnessed higher growth. Marketing strategies like digital
and social media marketing have helped companies of retail sector in advertising.
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REFERENCES
Books and journals
de Vass, T., Shee, H. and Miah, S.J., 2020. Iot in supply chain management: a narrative on retail
sector sustainability. International Journal of Logistics Research and Applications, pp.1-
20.
Gonda, G. and et.al., 2020. Competitive Factors of Fashion Retail Sector with Special Focus on
SMEs. Economies. 8(4), p.95.
Jie, F. and Gengatharen, D., 2019. Australian food retail supply chain analysis. Business Process
Management Journal.
Lewis, H., Downes, J., Verghese, K. and Young, G., 2017. Food waste opportunities within the
food wholesale and retail sectors.
Mewburn, I., Grant, W.J., Suominen, H. and Kizimchuk, S., 2020. A machine learning analysis of
the non-academic employment opportunities for Ph. D. graduates in Australia. Higher
Education Policy. 33(4). pp.799-813.
Robinson, A. and et.al., 2018 TJX Companies: A Strategic Case of Off-price Retail Sector.
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