Changing Face of Retailing in Australia Report 2022

Changing face of retailing in Australia

Executive summary
Retailing is the process which is to be followed for consumer goods or services by different
channels of distribution. In this report, the historical development of departmental stores and
discount stores is included in Australia. Retailing systems are analyzed and their changing
environment in the market. Form the last 5-10 years, major changes and development took
place in Australia in retail systems. The key drivers of a retail format change in Australia.
Retailers face various issues and challenge to retain consumers and attract new customers. In
order to increase sales and growth, it is analyzed that retailers have to adopt the latest
technology for consumers. In this report, recommendations are provided to retailers for the
growth and grabbing opportunities.

Introduction
A departmental store is a large retail trading organization. It includes the various classified
and organized departments. Different departments are included as per the types of goods
which are to be sold. In order to provide the household goods less than one roof to customers
and as per their convenience. Discount stores are those retail shops which provide the goods
at a lower price than the market price. The various discount stores in Australia are Aldi, The
reject shop, Big W, Kmart, Target and Red Dot. Discounted stores are almost similar like
department stores and these are also called as discounted stores (Ailawadi, et al., 2009). In
this report, the background information of the retaining system will be discussed and the
analysis of major changes and development will be done. The future face of retailing will be
discussed and the alternative of the retail store will be analyzed. For the retail industry,
recommendations will be provided for the satisfaction of customers (Grewal, et al., 2017).
Major changes and development in Australia retailing system
In Australia, Retailing system is undergoing the major disruption with e-commerce. Retailing
systems are changed in Australia because of technology. In Australia, retailers have adopted
the updated technology. Changes and development in retailing systems are because of
population demographics details, political factors, social, economic and technological factors.
Demographics changes and development includes the objectives, quantifiable, easily
identifiable and measurable population data. Retailing formats and systems are changed as
the customer’s preferences (Chopra, 2016). It can be gender, age, income, and employment
status and education level. In the 1970’s, the various department stores were closed and they
were replaced by discount department stores as the malls and shopping centers were the
discounted stores by 35%. After 1990, the Internet has impacted on the retailing industry and
it helped in driving product a making innovation in the retail industry. The product, place,
price and time are transformed and the perception of retailers and consumers changed after
the involvement of the internet in retail systems. Customers were able to access unlimitedly
to an unprecedented assortment of products and the purchases were not restricted to have a
physical place for shopping. The Internet helped the customers to compare the prices of
products in a fast way. It was beneficial for retailers as e-commerce helps the retailers in
optimizing the inventories by selling the goods on profit margins. Internet helps the retailers
in growth and development in retailing (Knezevic, et al., 2011). Online shopping helped the