The 3 things Australian retailers must get right

Australian retailers are under growing pressure, with rising wages, rents and operating costs squeezing margins while cautious consumers think harder about where they spend.

Yet, according to Nicole Buisson, Managing Director APAC at Lightspeed Commerce, retailers can still thrive with the right execution.

The businesses pulling ahead are focused on three priorities: protecting time, protecting margins and protecting the customer experience.

Technology is helping retailers reclaim valuable time, with businesses saving an average of one hour and 24 minutes a day through smarter tools and automation.

Data and AI are also helping retailers identify their most profitable products, manage inventory and make faster, more informed decisions.

At the same time, customer experience remains critical.

83% of Australians say quality customer service influences whether they return to a retailer, highlighting that loyalty still comes down to how businesses make people feel.

Retailers also need to meet customers across both digital and physical channels.

While 73% of Australians prefer to shop in-store, 68% expect to be able to check stock online before visiting.

Emerging technologies such as AI-powered shopping agents will add another layer to the retail experience, although human interaction remains particularly important for purchases built on trust.

With 37% of Australians preferring to shop locally, the message for retailers is clear: technology and human connection aren’t competing priorities.

Used effectively, technology gives businesses the time and insight to deliver the service and experiences that keep customers coming back.