Australian SME confidence and behaviour survey: Retail trade
The retail trade industry experiences a spike in confidence – for now.
Confidence increased but still registers well under the national average. Nevertheless, a stronger quarter is anticipated by retailers.
Sensis Business Index June 2016
At iFactory, we’ve been busy putting together our blog series on the results of the Sensis Business Index for June 2016 in an easy-to-understand, concise format. The quarterly report, released by marketing leader Sensis, provides a much-needed insight into the behaviours and confidence of small to medium businesses in a range of leading sectors across Australia. By surveying 1,000 businesses, a sample is produced of how an industry’s prospects are looking.
If you haven’t already read our previous blogs on other industries, be sure to head back and catch up on the state of the manufacturing, building and construction and wholesale trade industries. Also, be sure to check back to the iFactory blog regularly for further breakdowns of the survey and an insight into just how we can help your business.
Has the retail trade industry been revived?
The fourth industry we are looking at is the retail trade sector and the quarterly confidence results for this field. As opposed to its wholesale counterpart, retail trade has experienced a boost in confidence during the June 2016 quarter – which is a huge weight off the shoulders of small to medium retail business owners who would have been seriously concerned with the last quarter’s findings.
Last quarter, sales and profit across retail trade were the lowest of all sectors. This quarter however, the results were in direct opposition to these findings, with sales, profit, wages, prices and employment all looking much more positive across retail businesses surveyed.
Business owners shouldn’t get ahead of themselves just yet, though. Next to the manufacturing industry, retail trade is still the second least confident industry, with those surveyed citing weak sales and the country’s economic position as reasons why they can’t relax just yet. Let’s hope next quarter brings more optimism!
How iFactory can reinvigorate your retail sales potential
At iFactory, we understand just how competitive running a small to medium retail trade business can be. As much as we’re a nation of consumers, the amount of competition across the retail industries means that the expectation that people love to spend isn’t always a recipe for success.
We’ve won awards for our work in the digital marketing field, and we know retail just as well – if not better – than anyone. Do you need a reinvigorated online presence or a working plan of action on how you can get ahead of the competition with your digital marketing campaign?
Give us a call today to have an informal chat about your expectations and needs with a member of our friendly, expert team. We can’t wait to help your business thrive!
Read the whole blog series on the 2016 Sensis Business Index.