The Australian retail industry is a major contributor to the country’s economy, with total sales reaching AUD 341.5 billion in 2021 and employment of 1.3 million people in 2020. Online shopping has been on the rise over recent years, accounting for 11.1% of total retail sales in Australia last year and estimated to be worth AUD 50.5 billion this year – an increase of 57% compared to 2019 figures. Grocery stores are one of the largest sectors within the industry, valued at approximately AUD 111 billion in 2021 while fashion retailers saw revenue reach 16.9 billion that same year; pharmacies, cosmetics and toiletry wholesalers were also worth 16.6 billion during this period as well as household goods increasing by 2.7%.
In addition there were 140 692 businesses operating within the sector according to June 2020 statistics with 47 7% claiming they have a “very strong” digital offering which could explain why online sales experienced 13 % growth throughout 2020 alone. Furthermore 21 % of consumers intend on continuing their online shopping habits post-pandemic while 64 % prefer traditional brick-and-mortar stores when it comes time for them shop again; 65 % consider environmental factors when making purchases too. The CAGR (Compound Annual Growth Rate) for ecommerce is expected to grow 5 5%, from 2021 until 2025 whilst 33 percent spent more money on short shelf life groceries than usual due 20 4 percent expecting an increased frequency after pandemics end . All these facts point towards a bright future ahead for Australia’s Retail Industry despite its current challenges
Australian Retail Industry Statistics Overview
The grocery market in Australia was worth approximately AUD 111 billion in 2021.
This statistic is a testament to the sheer size and scope of the Australian grocery market, highlighting its importance to the retail industry. It is a clear indication of the immense potential for growth and success within the sector, and serves as a reminder of the immense economic impact the industry has on the nation.
The Australian fashion retail industry’s revenue reached AUD 16.9 billion in 2021.
This statistic is a testament to the success of the Australian fashion retail industry, highlighting the immense potential of the sector. It demonstrates the industry’s ability to generate significant revenue, even in the face of challenging economic conditions. This statistic is a clear indication that the Australian retail industry is a viable and profitable sector, and one that is likely to continue to grow in the future.
The Australian pharmacy, cosmetic, and toiletry sector is worth AUD 16.6 billion in 2021.
This statistic is a testament to the immense value of the Australian pharmacy, cosmetic, and toiletry sector in 2021. It highlights the importance of this sector in the Australian retail industry, and the potential for growth in the future. It also serves as a reminder of the importance of investing in this sector, as it is a major contributor to the overall economy.
There were approximately 140,692 retail businesses in Australia in June 2020.
This statistic is a testament to the sheer size and scope of the Australian retail industry. It highlights the sheer number of businesses that are operating in the sector, and the potential for growth and development within the industry. It also serves as a reminder of the importance of the retail industry to the Australian economy, and the need for businesses to remain competitive in order to remain successful.
47.7% of retailers in Australia claim to have a “very strong” digital offering.
This statistic is indicative of the fact that the Australian retail industry is rapidly adapting to the digital age. It shows that a significant portion of retailers are embracing the digital revolution and are making sure that their digital offerings are up to par. This is important for the industry as a whole, as it shows that the industry is staying competitive and is keeping up with the times.
13% growth in online sales in the Australian retail industry during 2020.
The fact that online sales in the Australian retail industry experienced a 13% growth in 2020 is a testament to the industry’s resilience and adaptability in the face of a tumultuous year. This statistic is indicative of the industry’s ability to pivot and innovate in order to remain competitive in a rapidly changing market. It is a sign of hope for the future of the Australian retail industry and a reminder of its potential for continued success.
Australian retail industry employment reached 1.3 million people in 2020.
The fact that Australian retail industry employment reached 1.3 million people in 2020 is a testament to the strength of the industry. It shows that despite the challenges posed by the pandemic, the retail industry has been able to remain resilient and continue to provide employment opportunities for Australians. This statistic is a reminder of the importance of the retail industry to the Australian economy and its ability to provide jobs and support the livelihoods of many Australians.
The Australian retail industry contributes to 4.1% of the country’s GDP as of 2020.
This statistic is a testament to the importance of the Australian retail industry in the country’s economy. It highlights the significant contribution the industry makes to the nation’s GDP, demonstrating its economic significance. This is especially pertinent in the current climate, where the retail industry has been hit hard by the pandemic. It serves as a reminder of the industry’s importance and the need to support it in order to ensure its continued success.
Household goods retailing in Australia increased by 2.7% in FY 2019-20.
The fact that household goods retailing in Australia increased by 2.7% in FY 2019-20 is a testament to the resilience of the Australian retail industry. This statistic highlights the strength of the industry, despite the challenges posed by the pandemic, and serves as a reminder of the importance of the retail sector to the Australian economy.
The food and beverage retail sector experienced 5.5% growth in FY 2019-20 in Australia.
This statistic is a testament to the resilience of the food and beverage retail sector in Australia, despite the economic downturn caused by the pandemic. It shows that the sector has been able to maintain its growth, even in the face of challenging times. This is a positive sign for the Australian retail industry, as it indicates that the sector is still performing well and is likely to continue to do so in the future.
21% of Australian consumers intend to shop more online post-pandemic.
This statistic is a telling indication of the changing landscape of the Australian retail industry. It suggests that the pandemic has had a significant impact on consumer behaviour, with more Australians now opting to shop online rather than in-store. This shift in consumer behaviour could have a major impact on the retail industry, as businesses may need to adjust their strategies to accommodate the increased demand for online shopping. As such, this statistic is an important one to consider when discussing the current state of the Australian retail industry.
The department store sector in Australia contracted by 6.3% in 2019.
This statistic is a telling indication of the state of the Australian retail industry in 2019. It highlights the fact that the department store sector experienced a significant decline, indicating that the industry as a whole was struggling. This is an important piece of information to consider when looking at the overall performance of the Australian retail industry in 2019.
In 2020, 64% of Australian consumers preferred shopping in-store in a post-pandemic world.
This statistic is a telling indication of the Australian consumer’s preference for in-store shopping in a post-pandemic world. It highlights the importance of physical stores in the retail industry, and the need for retailers to focus on providing a safe and enjoyable shopping experience for their customers. This statistic is a valuable insight for retailers looking to understand the current state of the industry and how to best meet the needs of their customers.
65% of Australian consumers are concerned about the environment and consider it when shopping.
This statistic is a powerful indicator of the Australian consumer’s mindset and their commitment to sustainability. It shows that the majority of Australians are conscious of the environment and are taking steps to support it through their purchasing decisions. This is an important factor for retailers to consider when developing their strategies, as it suggests that there is a growing demand for eco-friendly products and services. Furthermore, it could be used to inform marketing campaigns and product development, as it highlights the importance of environmental responsibility to the Australian consumer.
In 2020, 33% of Australian consumers spent more on short shelf-life groceries.
This statistic is indicative of a shift in consumer behaviour in the Australian retail industry. It suggests that Australians are increasingly prioritising short shelf-life groceries, likely due to the convenience and cost-effectiveness of these items. This shift in consumer behaviour has implications for the retail industry, as it may require retailers to adjust their product offerings and pricing strategies to meet the changing needs of their customers.
20.4% of Australian consumers expect to increase their online shopping frequency after the pandemic.
This statistic is a telling indication of the potential for growth in the Australian retail industry. It suggests that the pandemic has had a lasting impact on consumer behaviour, with many shoppers now expecting to increase their online shopping frequency. This could be a major boon for the industry, as it could lead to a surge in online sales and a shift away from traditional brick-and-mortar stores.
Conclusion
The Australian retail industry is a major contributor to the country’s economy, with total sales reaching AUD 341.5 billion in 2021 and contributing 4.1% of GDP as of 2020. The sector has seen significant growth over the past few years, particularly in online shopping which accounted for 11.1% of total retail sales in Australia during 2020 and is estimated to be worth AUD 50.5 billion by 2021 – an increase of 57%. Grocery stores are one of the largest contributors to this figure, being valued at approximately AUD 111 billion in 2021 while fashion retailers saw revenue reach AUD 16.9 billion that same year; pharmacy, cosmetics and toiletry sectors were also worth around AUD 16.6 million respectively during that period too.
Retail businesses have been resilient throughout these times despite experiencing some contraction due to COVID-19 restrictions; there were 140 692 registered businesses operating within Australia as June 2020 according to ABS data whilst 47 7% claim they had a “very strong” digital offering prior pandemic onset – 13 % growth was recorded for online sales alone last year. Employment figures remain steady with 1 3 million people employed across all industries related directly or indirectly towards retailing activities such as household goods (2 7%), food & beverage ( 5 5%) plus department store (- 6 3%).
Consumer behaviour has shifted significantly since 2019 when it comes down purchasing habits: 64 % prefer shopping instore post-pandemic yet 21 % intend on increasing their frequency when buying products online whereas 33 % spent more on short shelf life groceries compared pre-COVID days where 65 % consider environmental factors before making any purchase decisions . It appears Australians will continue embracing ecommerce solutions going forward given its projected CAGR rate stands at 5 5%, thus providing further opportunities for both consumers & business owners alike moving into 2025 .
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