Deloitte has released its latest report 2016 Global Powers of Retailing pointing to the growth of major international retailers entering Australia.
According to the report 39 of the world's top 250 retail powers are now operating in Australia with more expected to arrive this year.
In addition the parent company of Target and Kmart Australia Wesfarmers has retained placing amongst the top 25 global retailers alongside Woolworths.
Spanish company Inditex which owns and operates fashion chain Zara has been pinpointed as a major player in the domestic market with vast expansion on the cards, while US retailer Williams-Sonoma is also expected to escalate expansion this year.
Deloitte retail, wholesale and distribution group partner and national leader David White believes that Australia could see the entrance of lucrative Chinese retailers, none of which currently operate in the market.
With nearly half of the 39 Top 250 global retailers which operate in Australia based in the US, one country conspicuous by its absence is China. Whilst China has nine retailers in the Top 250, none currently operate in Australia.
“Many of the products we buy are manufactured in China, however unlike other sectors we have yet to see Chinese retailers entering the Australian market directly.
“The growth in the middle classes in China is already prompting a surge in consumer demand and Chinese developed brands.
“It is only a matter of time before we see these emerging retailers expanding their businesses more globally, including Australia.
“The second largest Chinese retailer, JD.com, has made a number of strides into the Australian retail sector, launching a dedicated online Australian mall in 2015 for products imported from Australia via its JD Worldwide platform.
“Numerous Australian companies have taken advantage of this platform to sell products into the Chinese market.
“Given the signing of the China-Australia Free Trade Agreement in 2015, further Chinese investment into Australia should be easier.”
The report also references recent partnerships made between UK department store Debenhams and local retailer Harris Scarfe as well as the inception of South African retailer Mr Price (MRP) which runs two stores in Melbourne.