- Australian shoe shops have the best-performing monthly revenues; each store earns an average of $40,601 per month, 47 per cent higher than the global average ($27,595)
- Australia’s fashion and accessory stores outperform global competition: independent fashion stores take home an average of $37,060 per month, 27 per cent higher than the global average ($29,209)
- Australia’s independent electronics stores are eclipsing even tech-hub North America. Per store, they are raking in an average of $51,362 a month, more than double the amount earned globally ($24,781)
From fashion and footwear to furniture and electronics, small retailers across Australia are earning significantly more per sale than most other global markets. Australia’s independent retailers average the second highest turnovers in the world, only outranked by their US counterparts.
The findings come from Vend’s Retail Benchmark Report which analyses the past 12 months of sales performances from over 13,000 independent retailers from around the globe
Australia’s independent retailers are among the best performing, ringing in an average of AUD $504,979.85 annually compared to New Zealand ($495,360) and the UK ($487,355).
“Far from struggling, independent retailers in Australia are in fact healthy and thriving,” comments Dave Scheine, Vend Managing Director, APAC.
“We know that the retail landscape is changing, and our data proves it. Despite the downward sales trends of multinational and big box retail evidenced by the ABS, independent retailers here are not only fighting back but are, in fact, punching above their weight globally. It’s great to see that strong revenue was reported across Australia; in rural areas, regional towns and bustling cities across the nation.”
Scheine described small businesses as the fabric of Australia and suggested their early adoption of technology was driving greater sales and better customer service.
“Thanks to cloud-based retail management software like Vend, these independent retailers are more competitive than ever, because they can save time and money to reinvest back into their businesses. They’re able to access the technology and support that much larger enterprise companies pay millions of dollars for. Plus, they can ensure that personalised customer experience and beautifully curated product ranges remain a central part of their offering.”
Aussie retailers who want to see how they stack up to their oversea’s counterparts and local competitors can check out Vend’s interactive calculator – which allows retailers in Australia to track their own business’ performance against competitors both globally and locally.