Australia’s retailers should develop new approaches to engaging their customers if they want their stores to remain busy, suggests ShopperTrak’s Adam Ioakim in an interview with The Sydney Morning Herald.
At first glance, the outlook for Australian retail might appear bleak; due to the late onset of winter, shopper footfall in 2016 was down on the previous year, and so far this year, traffic is already down -4.4% on a Year-on-Year basis. Factor in the collapse of a slew of high-profile retailers, forced out of business by rising costs and international competition, and it’s clear that Australia’s retailers might need to rethink how they are doing business.
Adam, ShopperTrak’s general manager for ANZ and South East Asia, says that although today’s shoppers are more cautious, and are increasingly opting to buy through multiple channels as well as in-store, there are real opportunities for Australia’s retailers. Although online sales ….