Australia’s independent retailers are ranked in the top three, with a sales average of $504,979.85.
According to Vend’s annual Retail benchmarks Report, the top three markets are US, Australia and New Zealand.
From fashion and footwear to furniture and electronics, small retailers across Australia are earning significantly more per sale than most other global markets. For example, furniture retailers bring in a sizeable $72,690 per retailer per month, which is 18 per cent more than the global average of the same vertical.
“Far from struggling, independent retailers in Australia are in fact healthy and thriving,” comments Dave Scheine, Vend managing director, APAC.
“We know that the retail landscape is changing, and our data proves it. Despite the downward sales trends of multinational and big box retail evidenced by the ABS, independent retailers here are not only fighting back but are, in fact, punching above their weight globally. It’s great to see that strong revenue was reported across Australia; in rural areas, regional towns and bustling cities across the nation.
“Smaller businesses are the fabric of Australia’s retail community, and thanks to cloud-based retail management software like Vend, these independent retailers are more competitive than ever, because they can save time and money to reinvest back into their businesses. They’re able to access the technology and support that much larger enterprise companies pay millions of dollars for. Plus, they can ensure that a personalised customer experience and beautifully curated product ranges remain a central part of their offering.”
Indeed, Australians value small retailers and make every effort to shop in their stores.
Chris Pickings, owner of Melbourne-based men’s fashion retailer and barbershop, Pickings and Parry, says as an independent retailer, we have a unique advantage over global retailers in that we can offer significant value and a personal service that appeals to all those Australians who like to shop local.
"We've been helped by technology designed specifically for small retailers and Government policies that have incentivised consumers to shop local,” he says.
“Together, they're helping to level the playing field with global brands better than perhaps elsewhere in the world.”