Worrying Signs For Australian Economy As GDP Tumbles:
The ABC is reporting that Australia’s economy is growing but at a worryingly slow rate. “The result was dragged down by weak household spending, slowing further from last year and up just 1.8 per cent over the year, with households cutting back on their discretionary spending, particularly in new household items, recreation and hospitality. However, spending rose in non-discretionary, essential areas such as insurance, power and health.”
Here is the link to the full article - https://www.abc.net.au/news/2019-06-05/australian-economy-slows-to-levels-last-seen-in-gfc/11180688
And for more information on April Retail Sales - https://www.abc.net.au/news/2019-06-04/retail-sales-april-2019/11176730
The Dilemma Of Empty Shops:
It would seem that the idea to put shops at the ground level of large new apartment complexes has proved a failure and there are other systemic problems creating empty retail shops around Melbourne. Details here -https://www.abc.net.au/news/2019-06-06/ghost-shops-haunting-new-developments/11184644
The Answer to Modern Effective Customer Engagement Is Not Everything:
Omnichannel has been a popular buzzword in retail with its proposition that retailers (Traders) need to be all things to all people - online/bricks’n’mortar/all the social media channels, and so on – but a key retail adviser is suggesting that is all rubbish.
In fact, rather than throw everything out there as some sort of catch-all net, we should be focusing on what is appropriate for our particular customers.
Steve Dennis writes for Forbes Magazine and is considered a top global influencer on many things retail. Here is his article on the death of Omnichannel. - https://www.forbes.com/sites/stevendennis/2019/06/03/omnichannel-is-dead-the-future-is-harmonized-retail/#12617c7e65e8
Ikea, The Furniture & Homewares Company, Moves Into Clothing:
Ikea has compiled a limited range of clothing from sustainable, socially conscious, manufacturers. Details here - https://www.fastcompany.com/90357173/ikea-is-getting-into-fashion-again
Woolworths To Give Greater Focus On Customers: