Where is Retail Headed?
Future trends in the retail industry can be tricky to predict as generally the state of the economy influences how consumers spend their money. Retailers have had to respond to new realities with strategies such as discount stores, factory outlets and slick websites.
Technology will be one of the biggest drivers behind future trends in retail, particularly mobile technology. However, there are other influencing factors like Australia's increasing population - through migration, people living longer and a mini baby boom and a change in generational mix in the workforce. Other trends include: