In this two-part series we compare the Australian retail landscape with that of the United States, in part one focussing on international retail brands, tenancy mixes, insolvent retailers and online retail penetration. Building on these points, part two considers the role of physical retail supply and department stores and how these factors combine to impact the varying performance of bricks and mortar retail in both countries.
In Australia and the United States, bricks and mortar retail is undergoing change with both markets being affected by similar forces. But how are they faring? Are they facing similar performance issues? Or are differences in physical property characteristics, consumer behaviour and the volume of retail stock in Australia making performance more stable by comparison?
Australia has, in fact, proved more resilient to market changes as occupiers and landlords adapted their offering to entice people to come to their stores and centres, and this first report in the series seeks to explain how they have done so and whether or not this success will continue in the long-term.