It is unfortunate that the mainstream media focus on the major retailers like David Jones, Myer and others when reporting on the health of retail in this country. Such a focus on the big end of town can give the wrong impression.
With small business retailers employing more people, renting more retail space and making a bigger economic contribution to this country, media outlets ought to find a way to better report on the performance of small business retailers.
The profit downgrade announced by David Jones this week is a good example. The reporting helps the news feed on itself, it risks making consumers more nervous. The coverage ignores that there was good news for reporting, if the news outlets did their job properly.
Reporters could have balanced reporting on the David Jones gloomy outlook with details of success in some small business sectors.
We are seeing excellent year on year growth in a range of retail businesses. Double digit growth – some of this in relatively new product niches and other growth in traditional categories. There are excellent stories of consumers responding to genuine innovation. Retailers who are more creative in driving shopper traffic than putting up a SALE sign are more likely to harvest the kind of value which is a better story than the David Jones profit downgrade story.
Our experience across a range of retail channels is that while retail is tough, there are plenty of genuine success stories which demonstrate the rewards available from applying professional retail skills and eschewing the lure of a me too approach by hanging a SALE sign and hoping for the best.
As a Point of Sale software company we are committed to helping our thousands of retail customers to use our technology as effectively as possible to drive year on year sales growth, deliver operational efficiency and facilitate genuinely valuable forward planning.
The small business retail space has good stories to match the doom and gloom on reports like those about David Jones this week. News outlets ought to research harder and tell these good stories. Who knows, consumer sentiment could rise as a result!