The Australian Retailers Association and the National Retail Association are set to merge as the duo propose amalgamation plans.
Once approved by their respective members, the merge will create a single unified body representing the $420 billion retail sector.
The two not-for-profit organisations have signed a heads-of-agreement for the amalgamation proposal and will commence collaboration immediately.
ARA president Nicole Sheffield said a unified sector is a winning proposition for retail and the broader economy.
“The ARA has been on a mission to unify the industry in recent years and today’s announcement is the result of significant discussions over time between our two organisations,” Sheffield said.
“It makes absolute sense to create one voice for retail, and to combine our strengths to support the growth of this vital sector which employs one in ten Australians.
“Whilst the resilience of retailers has been second to none in recent years, the headwinds we face as a sector have never been more challenging - from supply chain challenges and retail crime to sustainability outcomes and the rise of artificial intelligence. Joining forces for the good of our industry is an obvious win for all parties.”
Meanwhile, NRA chair Tim Schaafsma said the combined strengths of the two organisations will elevate the impact of the sector to the benefit of all Australians.
“Retail contributes enormously to our country’s economic success and social wellbeing and a strong retail sector is in the interests of all Australians,” Schaafsma said. “Our two organisations are aligned in our focus, and we come together in the spirit of doing what’s in the best interests of our retail community.
“There’s great strength in numbers and we are confident our members and the sector as a whole will appreciate and embrace this progression towards a unified voice for retail. The merged entity will truly represent the whole Australian retail sector, irrespective of size, segment or geographic location.”
Whilst the two entities formalise their amalgamation application to the Fair Work Commission, the two organisations will collaborate on joint advocacy work within the priority areas of retail crime, retail trading hours and the industry application to vary the General Retail Industry Awards.
A new framework for the proposed new entity will be announced in due course. In the interim, it is business as usual.