Bricks-and-mortar retail stores are under intense pressure from online competition. Feeling the most heat are clothes shops and department stores.
This year David Jones’s profit halved, to A$64 million. Myer declared a “disappointing” A$486 million loss. German giant Esprit, whose global sales have fallen 40% in four years, has shuttered its Australian operations. The US-based Gap closed its last Australian store back in February. Other brands to have collapsed include Metalicus, Oroton, Marcs, David Lawrence and Pumpkin Patch.
What to do?
One answer is to invest in and enhance those aspects of