Australia’s International Retailing Project

Australia has one of the most advanced retail industries in the world making it a great fit for international retailing. This industry consists of  different sectors such as apparel, footwear and accessories, household textiles and the food industry. Australia’s retail industry as a whole total turnover amassed  329.6 billion last year ending with a nine million increase from 2018 (Hughes, 2020). Over the past decade, both brick and mortar e-commerce sales have shown a steady increase. However, due to the recent wildfires that have affected the country’s economy, the apparel industry has seen a twenty eight percent decrease in sales. Other factors include rising sale prices and cost of living expenses (Santorencous, 2020). Although brick and mortar sales have declined, e-commerce sales have helped the industry and continue to rise. As a result, Australia has focused on technology to meet the demand of consumers (Farfan, 2020). This was an important factor in the group’s  interest in Australia. Innovative advances in technology and e-commerce is an important step for the future of retail and consumer demand. The world witnessed shelter in place orders due to COVID-19 and it changed the way many of us shopped and viewed retailers. Australia is taking steps to be ahead of the curve and able to adjust to consumer demands as well as adapt to the changing economy.

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