March 2015 – Issue 81
Dear customers and colleagues,
Welcome to the 81st issue of our Retail Barometer newsletter. We are now well into the new year and I trust you are constantly seeking new ways to reinvigorate your ‘Business Fitness’. Firstly, I would like to extend a big congratulations to our Marketing Manager Louise who welcomed her baby girl Matilda into the world last week.
Now back to business, in the Latest Citi Report ‘What’s in Store’ March 2015 Issue, an interesting analysis was featured on retail productivity vs floor space. Contact me at email@example.com for a copy of the full report.
According to the latest ABS trade figures, the trend estimate rose for Electrical and electronic goods retailing (0.1%) and was relatively unchanged for Hardware, building and garden supplies retailing (0.0%). The seasonally adjusted estimate rose for Hardware, building and garden supplies retailing (2.5%) and fell for Electrical and electronic goods retailing (-0.6%).
As Myer gains a new CEO Richard Umbers, I would like to pay tribute to Bernie Brookes, both in my time with him on the Asia Retail board and the Myer innovation team. Bernie is always a very strong supporter of our sector and gave his time to speak at our Retail Doctor Group breakfasts.
Elsewhere this month, we looked at consumers – surprisingly – highly emotional responses to payment surcharges in a recent study conducted by our subsidiary RDG Insights and funded by American Express. Click to view the Infographic and full RDG Insights / AMEX Surcharge Report. This Retail Barometer also features the latest RDG news along with articles from our retail fitness blog columns as seen on Insideretail.com.au.
For further news and events see our website at www.retaildoctor.com.au
Happy ‘Fit’ Retailing
Founder and CEO
Retail Doctor Group
RDG Insights / AMEX Surcharge Report
Payment surcharges are damaging for Australian businesses with 93 per cent of consumers saying they want them removed and 72 per cent telling friends to avoid businesses that surcharge, according to new report from RDG Insights – ‘Every good buy is the next hello’.
Surcharges have the biggest negative effect in online transactions including 46 per cent attempt to use alternative payment methods, 28 per cent are unlikely to return, and 30 per cent tell others about it.
Other key findings include:
- 44 per cent believe businesses surcharge what they want and they have no choice other than to pay
- 43 per cent have a bad last impression of the overall experience with the business that surcharged
- 38 per cent felt their business was unappreciated
- 30 per cent abandon online purchases when faced with a surcharge
Brian Walker provides commentary in a 3 part video showing that payment surcharges create negative customer experiences, reduce customer loyalty and are likely to negatively impact sales.
BRW: How Westfield’s ‘free’ wi-fi will make you spend more
The retail landscape in Australia is practically unrecognisable to what it was a few years ago. The potent combination of technology, the rapid changes in consumer behaviour, opening up of online and multiple channels to market, and the continual encroachment from overseas brands (in both a virtual and physical sense), has transformed our entire retail scene. And while I don’t pretend to be an expert on technology, I certainly understand the rapid advancements that technology… Read More…
Inside Retail: Where is the power?
“The most common way people give up their power is by thinking they don’t have any.” – Alice Walker. I am, as you know, an advocate for the structural changes in retail and we advise our clients accordingly in the building of business fitness. Through this process we believe fervently in the central role of the physical shop as the jewel in the crown. This belief is substantiated by our own RDG Insights results which show that the vast majority of consumers want to do business in the shops… Read More…
Leading Edge Books Conference 2015
The 2015 Leading Edge Books Conference will feature a keynote address by Brian Walker, CEO and founder of The Retail Doctor Group, to be held at the Rydges on Swanston in Melbourne on the 15-16th of May 2015. Brian Walker will present on global and domestic retail trends with a focus on independent book retailers using leading examples of retailers from around the world. Read More..
Seminarium 12th International Retail Congress 2015
Brian Walker will present as the Keynote speaker at the Seminarium 12th International Retail Congress 2015 in Peru on the 16th of April 2015. Brian will present a workshop style presentation on trends and Innovations using leading examples of retailers from Ebeltoft’s Global Retail Innovations 10 Case Studies. Brian will also focusing on key areas of Business Fitness including managing retail inventory, the role of a buyer and understanding the key numbers in a retail environment. Read More..
Neuromarketing World Forum 2015
Katharina Kuehn, Director of RDG Insights joins global Marketing thought leaders at The Neuromarketing World Forum this week in Barcelona to share neuromarketing experiences and present the findings of the Global Neuroscience Research Study Neuro Against Smoking (NAS) Project for which RDG Insights conducted the Australian research. Marketers and researchers collaborate at this industry-leading event to grow a revolutionary new field discussing marketing, brain research and consumer behaviour. Click to read more on this study and view The NAS Global Report.
Brian Walker, Founder & CEO of Retail Doctor Group comments on the latest Australian retail news:
- Anchorage Capital sizes up family-owned retail chain Shoes & Sox for $20 million acquisition
- Abercrombie & Fitch to exit Australia due to disappointing local results
- Selling power of nostalgia sees vinyl sales double
- Eight things you didn’t know about new Myer chief executive Richard Umbers
Transpharmation: How to unlock the biggest retail opportunities in your Pharmacy
Brian Walker spoke with Robert Sztar on ‘The Transpharmation Show’ discussing challenges and the fast paced changes of the Pharmacy Industry. Brian speaks of the increased reliance on digital means of communication resulting in consumers expecting to be in touch with a retailer 24/7. The role of the physical store is also explored along with the importance of having a tactile relationship with a brand. Click for full audio
Pharmacy Media Release: Retailing Health – The Future of Pharmacy
“Leading retail expert Brian Walker and community pharmacist Catherine Bronger discuss the current retail and health trends affecting pharmacy at APP 2015. “For a category with very little merchandising and marketing, the Pharmacist Only department is actually one of the most profitable areas of business to a pharmacy owner,” said Brian Walker, retail expert and founder and CEO of Retail Doctor Group, presenting at APP 2015 today.” Click for full text
RDG comments on the latest industry trends at www.retaildoctor.com.au
Contact Brian, Katharina or Anastasia on 02 9460 2882 to discuss ways in which we can help grow your ‘business fitness’.
We look forward to hearing from you.
Happy Fit Retailing!
Brian and the team at:
PO Box 209 Milsons Point
2061 Sydney, Australia
Phone: +61 2 9460 2882
Fax: +61 2 9460 3883
Our Business is your Retail Fitness™