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Who would want to be a traditional ‘bricks and mortar’ retailer in Australia?
Not only are they facing an explosion of shoplifting and theft, especially in Victoria, as well as soaring rental and energy costs, but they are also facing surging competition from online behemoths that offer unparalleled prices and convenience, rapidly stealing market share.
Investment and advisory group Jarden has forecast that the Australian market share of Amazon, Temu, and Shein will rise to 36% in 2026. The three online retailers’ combined Australian sales are expected to exceed $18 billion next year.
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.