Retail renaissance hits the streets of Adelaide

The latest data from Vend highlights a retail renaissance on the streets of Adelaide with independent retailers bucking the national retail downturn to ring in almost a quarter (24%) growth in average transaction value over a twelve month period.

Data shows average transaction values increased from $46.32 in 2018 to $57.70 in 2019, equating to more than double the national average (11.18%) during the same period.

Shop local trend alive and well

South Australians love to shop local and support independent retailers. Vend data reveals a healthy growth in the average basket size compared to the other major cities, with Adelaide retailers registering 2.29 average items purchased at the one time, compared to 2.12 average recorded for other major Australian cities.

Similarly, not only are Adelaidians buying more per visit, they’re shopping locally more regularly throughout the year too. Adelaide once again leads the nation, with the exception of Canberra, in average transaction volumes. Vend data shows an average of 5,916 yearly transactions recorded in 2019, comfortably higher than Australia’s ‘go-to retail destinations’ Sydney (4,056) and Melbourne (5,046).

Strong technology adoption and Government policies driving the retail renaissance

Adelaide is fast becoming a retail hotspot for the nation thanks to strong adoption by retailers of technology to reinvent and grow their business, alongside significant government support for SMBs and industry initiatives, like Renew Adelaide – all of which are creating a positive business climate to innovate and thrive.

This is reflected in the latest business confidence index with South Australian small businesses registering the highest levels of confidence over every major State in Australia, recording an all-time high at +56 (up +5 from last quarter) whilst other States recorded significant falls with the exception of Tasmania which remained stable.

Click here to see what the local retailers have to say. 

ABOUT VEND

Vend is cloud-based point of sale and retail management software that lets retailers run their business in-store, online and on-the-go. Vend’s software integrates with leading business applications around the world, including: Afterpay, Square, Shopify, Commonwealth Bank of Australia, BigCommerce and WooCommerce. For more information, please visit: www.vendhq.com/au.

ABOUT THE DATA
The data was taken from an anonymised analysis of 2,849 independent retailers using Vend in Australia, from April 2018 to March 2019. For a link to the full report, from which this data was taken, please visit: vendhq.com/retail-benchmarks

SHARE THIS ARTICLE
Share on linkedin
Share on twitter
Share on facebook

FURTHER READING

Retail Voice CEO Message: 3 August 2022

As anticipated, the Reserve Bank has increased interest rates for the fourth straight month, with the cash rate now sitting at a six year high of 1.85%. Unfortunately, the economic challenges are likely to get worse before they get better, as outlined by Treasurer Jim Chalmers in his economic update to Parliament last week.

Read More »