Fashion is the new travel souvenir, according to insights from AMP Capital Shopping Centres (AMPCSC) and the Australian Fashion Chamber’s (AFC) inaugural Talking Shop Retailer Engagement Series workshop—‘Postcards from Successful Retailers’.
Hosted by Harper’s Bazaar editor in chief, Kellie Hush, speakers Ed Steiner, head of travel and leisure at TNS Australia; Sarah-Jane Clarke, co-founder of Sass & Bide; and Arthur Li, acting head of sales and marketing, Union Pay; collectively agreed that the convergence of fashion and tourism is vital for the success of Australian retailers in today’s economic market.
Key themes that emerged from the Talking Shop Retailer Engagement Series, ‘Postcards from Successful Retailers’ event include:
The visitor economy in Australia is more than just tourists – in 2014 there was a seven per cent increase in overnight trips and a six per cent increase in overnight spend.
- Shopping is a driver for travel – 27 per cent of Australians travel interstate to shop, and 26 per cent travel within their own state to shop.
- Australian retailers need to focus on the importance of fashion and tourism – as an example, 51 per cent of New Zealanders travelling to Australia say their prime motivator is shopping.
- There is value in recognising that consumers’ buying behaviours change when shopping on holiday – one in two Australians and New Zealanders travel to visit friends and relatives at least once a year—and they visit shopping centres during their trip.
- Fashion is the new souvenir and authenticity of the product is vital – Australians are no longer looking for teaspoons or tea towels. Holidays are a time to splurge and fashion is one of the winners.
- It’s important to learning how to increase the relevance of the retail offer to the visitor economy – the most important factors are accessibility, the chance to splurge, authentic and unique offers, and an inspiring shopping environment that matches the location.
AMP Capital Shopping Centres head of shopping centre marketing, Belinda Daly, said the Talking Shop event series is a fantastic opportunity for retail influencers to share their secrets to success.
“At AMPCSC we recognise that success in the retail space requires the industry to be nimble and react quickly based on changes in consumer behaviours. The Talking Shop workshop was a great opportunity to bring together industry leaders to talk about what is impacting our industry and how we can together benefit from the opportunities that are presenting themselves.”