PROSPECTS AND OPPORTUNITIES
Challenging outlook for department stores as consumers’ spending habits change
The forecast period is set to be challenging for department stores in Australia, with value sales (at constant 2024 prices) expected to decline. Although inflation is expected to continue easing from 2025 onwards and consumers will regain some of their purchasing power, there has been a shift in what they what to spend their money on.
Despite stagnating sales, there is potential for variety stores to expand
While variety stores enjoyed strong growth in 2024, the channel’s value sales (at constant 2024 prices) is expected to stagnate over the forecast period. Consumers are expected to boost their spending on non-discretionary items, which is likely to benefit variety stores.
Development of omnichannel shopping could leave smaller variety stores behind
E-commerce experienced rapid growth in 2020 and 2021 at the height of the pandemic, before this quickly stabilised as society reopened. Nevertheless, online sales continued to rise in 2024, with a positive outlook over the forecast period.
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Overview:
Understand the latest market trends and future growth opportunities for the General Merchandise Stores industry in Australia with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the General Merchandise Stores industry in Australia, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The General Merchandise Stores in Australia report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of General Merchandise Stores in Australia?
- Which are the leading retailers in General Merchandise Stores in Australia?
- How is the rise of e-commerce and the expansion of modern grocery retail impacting traditional retail?
- How has the impact of COVID-19 and national lockdown impacted consumer demand?
- Which formats have benefited the most from stockpiling and enforced home seclusion?
- How will the wider economic impact of COVID-19 shape the retail landscape in the future?
- Where is future growth expected to be most dynamic?
General Merchandise Stores in Australia - Category analysis
KEY DATA FINDINGS
Department stores struggles to achieve stronger performance following post-pandemic rebound
Solid growth for variety stores despite operating in a difficult economic environment
Merchandising strategies key for variety stores in difficult business conditions
Challenging outlook for department stores as consumers’ spending habits change
Despite stagnating sales, there is potential for variety stores to expand
Development of omnichannel shopping could leave smaller variety stores behind
Retail in Australia - Industry Overview
Retail in 2024: The big picture
Shifting trust among consumers and shrinkflation strategies
Industrial disputes at Australian ports drive up cost of imports
What next for retail?
Informal retail
Opening hours for physical retail
Seasonality
End of year/Christmas shopping
Back-to-school
DISCLAIMER
The following categories and subcategories are included:
General Merchandise Stores
- Department Stores
- Variety Stores
General Merchandise Stores
The aggregation of department stores and variety stores.
See all of our definitionsWhy buy this report?
- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
- Inform your marketing, brand, strategy and market development, sales and supply functions
This report originates from Passport, our General Merchandise Stores research and analysis database.
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