Competitive edge a must in the face of moderate retail outlook

The first event in the Property Council’s 2015 retail series – the annual Retail Outlook Breakfast – forecast a subdued market for the year ahead but presented a number of opportunities for centres to build their competitive advantage.

This year, the Property Council welcomed Urbis Directors Ian Shimmin and Sue Say back to give their annual presentation on Australia’s retail market, and developing trends.

As always, Ian Shimmin, Director of Economics and Market Research presented an all-encompassing outlook for the retail market in 2015.

Ian discussed trends in the key drivers of market growth nationally and locally, the recent movements in retail spending and price inflation and the performance of centres in Queensland.

Ian detailed a number of factors that have led to Queensland’s below average retail growth rate, which has fallen well behind that of New South Wales and Victoria.

The presentation also outlined the trends in individual sectors of the market; predicting continued strength in food retailing, and a slowing in the growth of online retailing over the next 12 months.

Sue Say, Director of Consumer Research built on her 2014 presentation on experience customisation with a discussion on three push and pull customer satisfaction factors:

Hygiene Factors – Customers’ ‘must haves’ and basic requirements
Differentiators and Attractors – Customers’ top-of-mind choices, and;
Excitement Attributes – Unexpected innovations that generate positive word of mouth

Sue outlined some attributes and examples of each of these factors and the potential return on a centre’s investment if they are executed well or poorly.

Sue and Ian were then joined by Julian Demetrovics, Real Estate Manager – QLD/NT, McDonald’s Australia Ltd for a panel session moderated by Andrew Hogg, Chair of the Property Council Retail Committee, and Division Director – Savills Project Management.

The panel session focused on consumer trends in food retailing, the future of major shopping centre anchors and customer interaction innovation.

The Property Council would like to thank Ian Shimmin, Sue Say and Julian Demetrovics for giving their time to present at our outlook breakfast.

In addition we would like to thank our moderator Andrew Hogg and our joint sponsors Ray White and Urbis, without whose support this event would not be possible.

Proudly Sponsored By

Peter Hyland, Ian Shimmin – Urbis, Andrew Hogg – Savills, Julian Demetrovics – McDonald’s Australia, Sue Say – Urbis, Mark Creevey – Ray White Commercial & Chris Mountford – Property Council of Australia – QLD Division