There are currently nearly 17 million credit cards in circulation in Australia and we cant help but feel with the increase in the huge European retail chains converging on us that the current $25 billion per month being spent on those cards will continue to grow.
These Brands will all bring another dimension to the Australian retail sector and for most of them you don’t even have to leave the comfort of your lounge chair.
IKEA was one of the first major international brands to hit our shores way back in 1975 with the opening of their first store in Sydney. Since then a number of overseas chains have launched into the Australian market with Aldi continuing to ramp up across the nation and Costco being the largest footprint supermarket store to join the marketplace.
But even these now established brands wont have things all their own way now that ‘hypermarket’ store Kaufland, the worlds fourth largest retailer, has purchased its second site in Australia to join the $100 billion retail grocery sector. And with the Australian love of sports and the outdoors the first UK based JD Sports outlet has now opened in Parramatta , and joining them is the French based sports & outdoor giant Decathlon with the opening this week of their huge 3800 sq m store in Tempe, Sydney. With its mega range of clothing , equipment and any accessories imaginable the opening adds to their global tally of 1200 outlets.
All this and the worlds largest on-line retailer Amazon has only just started its push to take on the land down under.
Pay off those credit cards now ! With Xmas just around the corner we cant help but feel they are going to get a solid workout in the very near future.
Author: Jeff Pond
Jeff is a partner of Link Property Services, based in our Silverwater office.