Australia’s independent retailers are among the best performing in the world, ringing in an average of AUD $504,979.85 annually compared to New Zealand ($495,360) and the UK ($487,355).
That's according to analysis of over 13,000 independent retailers' sales performance over the last 12 months across various sectors and markets.
The Vend data shows Australia is punching above its weight.
Ranked by monthly revenue per retailer, the top three markets are:
North America (AUD $44,913)
Australia ($42,081)
New Zealand ($41,280)
From fashion and footwear to furniture and electronics, small retailers across Australia are earning significantly more per sale than most other global markets.
The average transaction value stands at $81.15, a comfortable 14% higher than the worldwide mean value ($71.39).
The data reveals that:
● Australian shoe shops have the best-performing monthly revenues; each store earns an average of $40,601 per month, 47% higher than the global average ($27,595)
● Australia’s fashion and accessory stores outperform global competition: independent fashion stores take home an average of $37,060 per month, 27% higher than the global average ($29,209)
● Furniture retailers bring in a sizeable $72,690 per retailer per month; a fifth (18%) more than the global average of the same vertical ($61,467)
● Australia’s independent electronics stores are eclipsing even tech-hub North America. Per store, they are raking in an average of $51,362 a month, more than double the amount earned globally ($24,781)
Melbourne-based men's fashion retailer Pickings and Parry is one of them. Owner Chris Pickings said business is good.
"Consumers value small retailers in Australia," he said. "As an independent retailer, we have a unique advantage over global retailers in that we can offer significant value and a personal service that appeals to all those Australians who like to shop local."