In the first of a series of KordaMentha articles discussing
the future of the retail sector and its many micro-markets, we
contend that struggling bricks-and-mortar discretionary brands need
to re-define their purpose if they are to survive and
prosper.
Australia's retail sector has faced headwinds over the last
decade, as brands with inadequate omnichannel capability have
struggled to compete with the acceleration of online shopping
popularity and changing consumer habits.
The list of recent retail restructures is sobering: Tigerlily,
Target, G Star, Aussie Disposals and Seafolly are just some of the
brands impacted by the difficult trading conditions.
The COVID-19 pandemic has further exposed the weak business
position of many retailers, intensifying the downward trend in
sales and shuttering brands that were once considered an
indispensable part of Australian retail. According to data from
ShopperTrak, shopping centre footfall declined by more than 80
