Myer, Target, Esprit, Jeanswest and Tigerlily will send their young recruits to battle this Friday.
The National Retail Association (NRA) will host its annual Young Retailer of The Year Award on September 26.
Fashion traders dominate the lineup, with candidates ranging from discount department stores such as Best & Less to omnichannel retailer Shoes of Prey.
Now in its 41st year, the program aims to showcase individuals of 25 and under who are actively making a difference in their retail business.
NRA CEO Trevor Evans said this year's lineup was significant for its diversity.
“The 2014 finalists have certainly demonstrated that the retail sector is no longer defined by the traditional customer service roles,” Mr Evans said.
“Retail is evolving and these young future leaders have proved that if you’re savvy, innovative and committed to the cause you’ll prosper in this challenging market, and build an exciting career for yourself.”
The finalists will battle it out for the top prize, a place on the Westfield World Retail Study Tour next year, valued at more than $17,000.
There are five award categories up for grabs including, Young Retailer of the Year, Young Retailer Runner Up, Innovation Award, Rising Star Award and Scholarship Award.
The final stage of judging will take place at Sofitel Sydney Wentworth on September 26, followed by a gala event on the same evening.
The finalises are:
