Buyers return to brick-and-mortar shopfronts
Online retail sales spiked during the COVID era, but new data suggests that consumers are now rapidly heading back to brick-and-mortar stores.
In 2019, online sales only represented approximately 6.25 per cent of all retail turnover.
COVID-19 sped up the online retail trade phenomenon, more than doubling its numbers to a peak of 14.36 per cent of all retail turnover in August 2021 during the Delta lockdowns.
The latest data from the ABS for May 2022 highlights this figure is steadily declining and now only represents 10.68 per cent of retail turnover, which is below the initial COVID-19 jump in April 2020.
According to Ray White Commercial, customers have begun to flock back to their local shopping centres and retail areas to re-acquaint themselves with the in-person shopping experience.
Delays in shipping have been a large deterrent for some shoppers, while the lure of quality food offerings and entertainment has brought vibrancy back to centres and strips.