Global Business Management Australia Analysis 2022

Running head: GLOBAL BUSINESS MANAGEMENT
GLOBAL BUSINESS MANAGEMENT
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1GLOBAL BUSINESS MANAGEMENT
Case Analysis
Summary of retail industry sector
The retail industry sector is considered to be the fifth largest in the world along with
huge growth potential and it accounts for 14-15% of the total GDP of the country (Bailey et
al. 2015). It comprises of the organized and the unorganized sector. It is considered to be the
fastest growing industry over the past few years. Australian retail industry market ranks the
highest on the world’s largest retailers. Within the borders of its own continent the retail
trading industry is the largest employer. It is estimated that at least 50% of the population has
been working in the retail market and considered it their career at some time (Bailey et al.
2015).
2. Domestic market sector
The retail industry of Australia is considered to be the most significant part of the
country’s economy. The large revenue of the Industry enables the country to rank to the
highest among the large companies in the entire globe (Balaji and Roy 2017). In the
Australian retail industry there are longer sales hours, the country has immense number of
specialty chains, they retail service providers offer direct customer service assistance and
most importantly there is a rapid growth of technological advancements in this sector. There
is increased productivity because of more timely date and better analysis. There is increased
number of hypermarkets and supermarkets along with the international expansion of the
Australian based retailers (Pantano et al. 2017).

2GLOBAL BUSINESS MANAGEMENT
3. Major Companies
The Wesfarmers, Coles and Woolworths Pvt. Ltd. are some of the major companies in
the retail market sector in Australia. It offers convenience forecourt store, discount
department stores, electronics speciality and other speciality supermarkets. There is a 3.9
percent of the annual growth in the departmental stores, supermarkets and grocery stores.
There are around 11% of the Australians employed worked only part time in the retail market
sector. The wages earned in the retail sector in Australia is around $ 60 billion (Pantano et al.
2017). These statistics reveal the importance of the retailing in Australia.
4. History
It has been analyzed that there are around 47% of the country’s retail trade (Richards
et al. 2013). Since 1950s they has been significant causes for reshaping the Australian cities
and the developments of the retail market sector has enabled the country and its citizens to
engage with in a semi regular or on regular basis. There are patterns of development which
varied across the nation as per the changes in the local conditions including the demography
and the market size (Richards et al. 2013).
5. Rationale for selecting retail market sector
The retail industry sector is growing at a faster rate and the majority of the population
is working in the retail sector. The retail industry has a brighter scope and chances for making
a career in the future. There is a growth in the retail market sector along with international
expansion. This is a particular area of interest. Presently the retail market is a big trend at
every place and it can be started at a minimum cost and it is considered to be profitable in the
long run. Hence retail industry is all about worthy business for the future.