A segment on the ABC’s 7:30 Report this week reported on some of the difficulties facing smaller Australian fashion retailers.
The report identified the influx of large overseas fashion chains as a major factor in the struggle facing smaller competitors. The larger overseas groups see Australia as a growth market, certainly compared with their home bases in Europe or US where economies are slowly recovering from long periods of stagnation. Throwing everything at the Australian market might seem good for them but for established local traders it is a nightmare of poor business, low consumer confidence, and a difficult future.
Add in the pressure of online competition and we can see that only the brave and innovative are likely to survive the drastic changes in retailing.
Traders interested in the full report from the ABC can see it on ABC iview by going to the replay of the 7:30 Report program of 10th September.