Retail and trade
Australia’s retail industry includes many successful family-owned and private businesses across multiple sectors, primarily food and grocery, health and beauty, clothing and footwear and electricals. The power of external disruption continues to accelerate the urgent need for change in retail. The landscape is evolving as never before, with every sector’s primary stakeholder groups – customers, suppliers, employees and investors – considerably and simultaneously changing their behaviour and expectations.
Changing consumer needs and behaviours, cost of living pressures, supply chain vulnerabilities and an extremely tight labour market are making it increasingly important for retailers to act now. Experimentation is expensive and staying lean to balance expenditure is generally the default position in challenging economic times. However, standing still can be a bigger risk. By being decisive and focusing on the long term, retailers can considerably outperform their competition both during and after a downturn. Being a leader and staying a leader requires an agile and focused strategy.
Whether your business is family-owned and operated, privately held, listed, in wholesale distribution or franchised, you’ll benefit from the ability of our retail experts to strategically address challenges, identify opportunities and develop a clear path forward. We partner with our clients to help with:
- Operating model review, design and implementation
- Operational excellence and efficiency
- Talent attraction and retention
- Audit, assurance and risk management
- Data and automation
While constant growth and change can be challenging, it can also bring about new opportunities and innovations. Businesses in the retail trade sector must address these challenges and opportunities in order to stay relevant and maintain their competitive edge.
Competition is strong in the retail sector so it is critical for businesses to provide a memorable shopping experience, both in-store and online, and deliver high-quality products. But before this, retail businesses need to have the right business and taxation structures in place. For franchised and multinational retail businesses, it is particularly important to establish the right foundations from the outset to proactively address any challenges that arise as you expand to additional locations or consider acquisition opportunities.
The increasing digitisation of the shopping experience means retail businesses have more customer data than ever before. Using this data effectively provides new opportunities for your business to optimise the shopping experience and increase brand awareness across your consumer segments. In wholesale distribution and import channels, globalisation and the increasing ease of doing business across borders is providing import and export opportunities.
The influx of consumers to online shopping means retailers must develop a strong online presence and branding to build trust, remain competitive and effectively market to a range of audiences. In the wholesale and distribution channels, engaging in export marketing channels, such as trade shows, exhibitions, roadshows and engagement with local international trade offices, remains a key opportunity.
Whether you run a retail business or trade in wholesale distribution and import channels, our advisors can help you establish the foundations for success. With Pitcher Partners, you’ll gain access to industry experts who not only provide the technical knowledge to ensure your business is profitable but have a deep understanding of industry-specific challenges
On top of tailored advice and support, we provide valuable insights to retail and trade businesses through events, surveys, and benchmarking studies. These activities keep our clients abreast of the major issues facing all aspects of the sector, ensuring our advice is always current, addresses your challenges and proactively identifies risks and opportunities.