Dear Members,
There’s been heavy media coverage around retail over the past week, particularly on David Jones and Black Friday sales.
It’s rare we’re drawn to comment on individual retailers, but DJs is one of Australia’s oldest and most iconic brands, and has served Australians for generations. It now has the opportunity to reshape its operations so it can play an important part in Australia’s retail future.
That said, we have been sounding the alarm for some time about the pressures facing Australian retailers. Trading conditions are tough. Costs are rising, households are stretched, competition from ultra-cheap offshore platforms is growing and retail insolvencies are at record highs. We’ve taken that message directly to the Prime Minister and more than 200 MPs in the past week, calling for less regulation, simpler workplace rules, greater consistency across states and a level playing field for Australian retailers. Now more than ever, we need Australians backing the retailers that back Australia.
Despite the challenging conditions, it’s critical we remain energised and optimistic. Our Black Friday/Cyber Monday research released yesterday shows Australians are still planning to spend. They are being careful and looking hard for value, but for retailers positioned well over the next six weeks, there is real opportunity through to Christmas, Boxing Day and beyond. You can see the full data and what it means for your business here.
Finally, next week I’m looking forward to our People & Culture Breakfast in Melbourne, where we’ll launch ARC’s new People & Culture Community. Retail is, at its heart, about people. I look forward to seeing many of you there.
Let’s talk shop,
Chris
