Customer lifetime value. Customer experience. Omnichannel retailing. Targeting Shopping local. Bricks and mortar retailing has had its barriers to profitability over recent years. This is reflected in growing shopfront vacancies in the centre of cities and towns throughout Australia and the world. In 2021, the Sydney Morning Herald reported that CBD retail vacancy rates had […]

Customer lifetime value. Customer experience. Omnichannel retailing. Targeting Shopping local. Bricks and mortar retailing has had its barriers to profitability over recent years. This is reflected in growing shopfront vacancies in the centre of cities and towns throughout Australia and the world. In 2021, the Sydney Morning Herald reported that CBD retail vacancy rates had risen 12.9% as a result of COVID 19. The high vacancy rates for CBD retail will remain high and continue to grow. According to Business News, in 2022, retail vacancy rates in the Perth CBD are 18%. There are two observations I would note regarding these numbers: The high vacancy rates for CBD retail will remain high and continue to grow. The factors impacting on retail in general are relevant to many other industries. Before addressing the solutions to declining retailing and identifying strategies, retailers and other businesses can implement to stem this decline and facilitate growth. There is…