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Report Buyer, the online destination for business intelligence for major industry sectors, has now added a new report showing that Australia’s retail industry will reach AUD1.54 billion (US$1.36 billion) by the end of 2007, and that the market will grow at a cumulative growth rate of 9% from 2006 to 2010, expected to hit AUD1.96 billion (US$1.73 billion) by 2010.
“Australia’
The report shows that a saturated local market has forced Australian retail companies to look at investing in new markets, including geographic expansion and new formats, to boost their business. These retailers consider expansion as key to continued growth and profitability. This focus on new market opportunities – and the pivotal role technology plays in these strategies – will prove to be one of the key drivers for IT revenue growth in the Australian retail industry.
According to the authors of the report, a quarter of the retail companies they surveyed, have invested significantly in enterprise resource planning (ERP) solutions. This, they say, underscores the industry’s need for streamlining back-end operations affected by the dynamic changes retailers face due to expanding markets, developing technologies and evolving business strategies. They also note that retail companies across all sectors invest in supply chain management (SCM) to streamline business operations. Retail investment in this IT area is viewed as fundamental to industry growth and profitability, and 26% of retail respondents have said that SCM has been their IT focus area of the past 24 months.
The report shows that while online retailing in Australia is at a nascent stage, it is on the agenda of a significant number of retailers, especially the larger ones. These retailers see digital storefronts as a complement to their offline business. 23% of surveyed retailers said investment in e-commerce was their major solution category of the past 24 months.
“Australia’
Report Buyer product ID: SBR00021
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