RDG News | November 2024 Issue
EXCLUSIVE NEWS, INSIGHTS, EVENTS AND CONTENT
We’re Australia’s most awarded retail advisory and consultancy firm. We’ve built insights-driven, high-performance retail for the region’s leading “Fit for Business™” retailers for almost 20 years!
Built by retailers for retailers, our proven methodologies continue to guide businesses in achieving their goals, through our 4 core service offerings:
This newsletter summarises our activities for the month, and brings relevant and trending retail news and industry updates right to your mailbox.
Vital Statistics
The September 2024 seasonally adjusted estimate rose 2.3% compared with August 2024 and remained relatively unchanged at 0.1% on a month-on-month basis.
The following industries changed in trend terms in September 2024 from the previous month:
The following states and territories changed in trend terms in September 2024:
What this means for retailers
The retail data suggests a nuanced economic landscape with modest growth patterns across Australian retailers.
The marginal month-on-month increase of 0.1% alongside mixed performance across retail categories indicates a cautiously optimistic consumer environment.
Essential sectors like food retailing and household goods showed slight positive momentum, while discretionary segments like department stores experienced some contraction.
The geographical variations reveal a patchwork of consumer confidence, with NSW showing modest growth while the Northern Territory experienced more significant decline.
This balanced position suggests consumers are maintaining a measured approach to spending, with a preference for essential categories while being more selective with discretionary purchases.
The overall trend points to a retail sector that remains stable but lacks strong growth momentum, reflecting broader economic uncertainties that may be influencing consumer behavior.
What's Happening in Retail?
Here's the top 6 things you need to know.
Adore Beauty to Launch Over 25 Physical Stores
Adore Beauty has unveiled its three-year strategy at its Melbourne AGM, targeting 30% revenue growth to $260m+ and doubled EBIT margin. Plans include launching 25+ stores nationwide, growing owned brands to 8-10% of revenue, and implementing AI-driven operations, while maintaining 1.25m+ active customers and 8%+ EBITDA margin. Read more here.
'The Invisible Enemy' that's dismantling traditional Australian and global pillars of retail with alarming speed
Foreign e-commerce giants are rapidly disrupting both Australian and global retail, with 1.5m daily parcels and $9b in annual sales from Amazon, Temu and SHEIN alone. This invisible competition, growing at 30%+, is fundamentally changing retail dynamics, making it harder for traditional retailers to track or counter their impact. Read more here.
AI adoption in retail: Opportunities & readiness gaps
Australian retail leaders overwhelmingly back AI, with 95% rating it a C-Suite priority, though only 40% feel ready to roll it out. Despite implementation hurdles, nearly all retail decision-makers agree that AI will boost digital experiences, especially during major shopping events like Black Friday. Read more here.
The X factor setting retail giants like Uniqlo apart
Uniqlo's journey from a single men's shop in Tokyo to a global powerhouse offers fascinating insights for retailers. In a recent article by CEO & Founder of Retail Doctor Group, Brian Walker, we explore how Japanese principles of Bushido (honour) and Shitsuke (discipline) have shaped Uniqlo's remarkable success. Read more here.
Harvey Norman sales fall behind major rival The Good Guys
The ongoing competition between these 2 brands highlights classic retail inventory management challenges. Harvey Norman's reported underperformance against The Good Guys suggests inventory missteps and competitive pressure impacts. Gerry Harvey's defensive stance on market share, despite clear stock clearing issues, contrasts with stronger competitor performance through Black Friday. Read more here.
What's Happening at Retail Doctor Group?
Join our high-priority CEO Community to get notified immediately when new events are added.
As part of our RDG CEO community you will receive;
Black Friday Re-cap & Outlook for 2025 - December LIVE Webinar!
Retail Doctor Group and Jarden are hosting an exciting webinar, where retail expert teams will break down Black Friday / Cyber week, looking at trends by channel and category, and views on the outlook into Christmas and 2025.
Join Brian Walker, Anastasia Lloyd-wallis, and Ben Gilbert in an update that will focus on:
Add this event to your calendar now!
📆 Wednesday, 11 December 2024
⏲ 3.00 - 3.45pm AEDT
📍 Zoom event ◄ Click to register
Whitepaper: 2024 Consumer and Global Retailers Sentiment
Our 2024 Consumer and Global Retailer Sentiment whitepaper helps retailers further understand how sentiments have changed within the past year and what to expect to happen in the future of retail.
It covers topics such as the retail ecosystem, customer engagement and what retailers need to do to captivate customers. These insights (and more) is what you can expect to learn more about in our webinar.
"These insights reinforce the importance of taking the time to hear what consumers are really thinking about - especially in the past 12 months, where the situation changes so rapidly. If you're not working from the latest research you could be focusing on entirely different areas to your customers," says Anastasia Lloyd-Wallis, Head of Insights and COO at Retail Doctor Group.
Brian Walker, CEO of Retail Doctor Group added, "Insights are imperative to successful strategy, and it is insights that move beyond just demographics to provide the most precise understanding of consumers. Being aware of changes in consumer behaviour allows retailers to understand the context for growth and align themselves to real customer drivers."
DOWNLOAD the 2024 Consumer & Retailer Sentiment Whitepaper now
New Whitepaper Alert: Consumer and Retail Trends and Predictions for 2025
As 2024 comes to an end, retailers around the world are keenly pondering: ‘What lies ahead for us in 2024?’ This question opens up to a scenario that’s both challenging and filled with potential growth opportunities, contingent on knowing where to look.
This critical period is essential for understanding both existing and upcoming consumer trends. As we move into 2025, it’s evident that the Australian retail sector will be operating in a context characterised by slower economic growth, evolving consumer spending patterns, and continuous inflation pressures. These elements are crucial for shaping strategies and forecasting trends that will influence the Australian consumer and retail landscape in 2025.
At Retail Doctor Group, we have thoroughly analysed these trends to equip you with essential insights for 2025. Our research offers clear, actionable strategies for retailers to navigate and prosper amidst these changing market conditions.
Be notified immediately when this whitepaper releases by following along with our LinkedIn company page.
Australia's Leading Retail Skills Training Academy
We’ve been the go-to authority on building insights-driven, high-performance retail teams for leading Australian retailers for almost 20 years now.
Is your team fit for Black November and the "Grand Final" of retail?
As Australian retailers get ready to see if their prep for Black November will pay off, one critical question remains largely unanswered: Is your workforce ready to deal with today's complex retail environment at one of the busiest times of the year?
Recent research shows shoppers are more informed than ever and retail staff now need to master a delicate balancing act. They've got to be available without being pushy, and when called upon, deliver spot-on service across both physical and digital channels. This includes handling click-and-collect, fielding questions about online promos, and managing price-matching queries.
68% of retailers reckon well-trained staff are essential for tackling operational challenges, yet only 54% believe their current training programs hit the mark. There's also been a notable shift in customer preferences, with 59% of shoppers preferring to be left alone until they need help - up 12% from last year.
The big challenge is finding time for training during the busy season. Modern solutions like 10-minute micro-learning modules delivered to staff devices offer a practical way around this, letting team members upskill without leaving the shop floor.
The payoff for solid training is significant. Well-trained staff can boost conversion rates beyond the industry's 15% average, drive repeat visits, and bump up transaction values. This is particularly important given that 70-80% of purchases are impulse buys, and service quality often determines whether customers return after sales events.
For retailers looking to nail this business-critical time, the focus should be on prepping staff well before the rush. This means going beyond basic product knowledge to include skills in:
Don’t wait until the pressure is on to upskill your team.
Contact The Retail Doctor Academy today to arrange your complimentary retail skills assessment and discover how our proven Fit for Business™ modules can prepare your team for retail sales success.
Read more in November's featured retail skills training blog: Black November 2024: Critical Retail Skills Training for Teams
Essential Content
Stay up to date with industry, sector, and company news by following Brian Walker, Anastasia Lloyd-wallis, and our company pages on our social channels, podcasts, and in the news.
The Future of Retail Podcast Series
Retail Doctor Group's Future of Retail podcast series guides retailers through the steps to improve their business fitness. Our guest speakers provide insights and opportunities for challenging markets, with a distinct focus on technology, the Internet of Things, robotics and automation, and the impact of AI on retail.
New Podcast Alert!
In Episode 43, our CEO & Founder, Brian Walker, engages in conversation with Steve Sammartino, Futurist, Technological Economist, and Co-Founder of Macro3D. Watch this podcast on YouTube, or listen via
If you'd prefer to read more about this in text form, check out the blog on AI, Robotics, and the Human Experience instead.
RDG TV on YouTube
Why work with Retail Doctor Group?
Retail Doctor Group, led by CEO Brian Walker, is a premier retail consultancy with almost 20 years' of experience in transforming client strategies into tangible results. Our approach combines deep industry insights, consumer understanding, and retail excellence to drive increased profits, enhance brand presence, and foster growth for our clients.
At the core of our methodology is a unique blend of market research, proprietary neuroscientific consumer Limbic Insights™, and retail operational expertise. This comprehensive approach allows us to develop well-informed strategies that resonate with both current and future customers, effectively target markets, and seamlessly deploy retail skills.
From the Blog
Modern retail success demands more than traditional points-based loyalty schemes.
Beyond Points & Rewards: Loyalty Programs in Australian Retail
Our proprietary research reveals how Australian retailers are revolutionising their loyalty programs, creating meaningful customer connections through:
What steps is your organisation taking to evolve its loyalty strategy?
Discover how leading brands are achieving up to 18 months faster break-even on customer acquisition through innovative loyalty strategies that drive real engagement and lasting value.
Inspire, Motivate & Inform.
Learn From the Best of the Best
We understand what makes retailers and brands successful.
Our CEO and Founder, Brian Walker is among the Top 50 Global Retail Influencers, with more than 3 decades of retail expertise to inform his strategy. He is regarded as one of Australia's top 10 retail futurists and provides audiences with insights into the Future of Retail, digital disruption, trends in retail, AI and data analytics, and so much more.
Our COO and Head of Insights, Anastasia Lloyd-wallis is a highly-praised speaker who helps her audiences understand consumer insights and behaviours. She is dedicated to cutting-edge consumer research and lends her hands-on experience to every talk, unveiling the latest research on human decision-making and how to use insights to create actionable competitive advantages.
If you're looking for inspirational and engaging retail keynote speakers, download Anastasia and Brian's speaker packs below or email the team at businessfitness@retaildoctor.com.au or call +61 2 9460 2882 to book today.
Media Commentary
Sought-after retail expert media commentary
Featured on all major Australian TV channels, Brian Walker and Anastasia Lloyd-wallis are regularly called on to deliver factual, insights-based commentary on what's happening in retail!
Direct all media commentary enquiries to businessfitness@retaildoctor.com.au
Ready to learn more?
There's nothing like hands-on experience to repair, refine, or grow your retail business to its optimal market value.
Book a complimentary appointment and we'll show you how your business can survive and thrive.
Call us on +61 2 9460 2882 or send us an email at businessfitness@retaildoctor.com.aun today.
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