Australian retailers are yet to be impacted by the emerging 'friend and foe' scenario that many other countries are facing in the wake of Amazon's continued growth, recent research reveals.
The concept is derived from the concern that even though online retailers feel the platform will be a key sales driver, many are worried the retail giant will use their data to gain a competitive advantage.
According to the Q2 2017 E-commerce Performance Indicators and Confidence Report by SLI Systems, while Australia has not felt the full brunt of pressure from Amazon, retailers are already ramping up expansion plans in preparation.
44% of Australian retailers said they plan to expand into new marketplaces this quarter, up on last quarter, compared with the United States (40%) and the UK (24%).
A further 25% of Australian retailers indicated that they plan to sell to new geographical markets.
Retailers are also set to begin implementing aggressive hiring, technology and brick and motor expansion plans while looking to drive sales mainly from online and mobile.
One quarter of Australian retailers forecast over 20% growth in revenue compared with the same quarter in 2016, with 81% also investing heavily in technology and hiring.
Nearly half (44%) of the bricks and mortar retailers surveyed said they planned on increasing the number of stores this year, yet 81% said they had forecast an increase in revenue through mobile technology.