LONDON, Dec. 18, 2016 /PRNewswire/ -- Includes 3 FREE quarterly updates
Australia's retail market benefits from its sophisticated nature as well as a high earning consumer group. However, through to 2020, we believe the country's slowing consumer sentiment will shift consumption demand towards affordability, which will slow growth for non-essential spending over the coming quarters. Changing consumption patterns will drive the growth of online retailing as industry maturity limits new long-term growth prospects.
Key Views And Developments
- Sweden-based IKEA has announced that it is developing a platform for online sales in Australia, which it plans to launch by the end of 2016. The retailer is also on target to launch its new IKEA store adjacent to the Westfield North Lakes shopping centre in Brisbane by the year's end.
- Following the collapse earlier this year of the Dick Smith electrical goods retail business and the closure of all stores and loss of 3,000 jobs, the firm's online business was acquired by e-commerce retailer Kogan.com and relaunched in May 2016.
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