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There have been a lot of stories in the news lately about how Australian retailers are suffering. Low than expected revenue, poor post-Christmas sales results, shoppers going online overseas, the sob stories are mentioned daily.
There are some VERY simple solutions, dear Australian retailers.
1. Lower your prices. The Australia dollar has had near and actual parity for the US dollar for some time now. Maintaining higher prices because of the inequity of the dollar isn’t cutting it. Consumers are smart. They know they’re being taken for a ride.
2. Offer some service. That’s the big way to differentiate from the online shopping experience. I have stood in a very large and very famous department store, wanting to buy a pair of sunglasses, and been ignored for 40 minutes. Bear in mind I am not looking to buy $20 sunglasses. Not good enough, retailers.
3. Don’t rely on the old and tired “buying Australian means Australian jobs” mantra. Consumers go where the good prices are, and where they get good service. If I can’t get a pair of sunglasses in Myer despite my best efforts, why wouldn’t I buy from Net-A-Porter who will deliver them, beautifully wrapped, the next day? And often for less money?
Shape up, retailers. You’ve
been too lazy had it too good for too long.