Retail

Retail is big business in NSW.

NSW's retail sector accounted for $17.2 billion, or 5.2 per cent of NSW's total industry value added in 2009–10. It is forecast to grow 22 per cent over the next decade.

In 2009, about 359,000 people were employed in NSW retail trade, accounting for the second largest proportion (10.5 per cent) of employment in all industries.

Growing appetite

Food retailing has consistently been the biggest driver of growth in the NSW retailing industry. In 2009–10, food retailing turnover was valued at $29.4 billion, representing 40 per cent of the total value of all retail turnover in NSW.

Several large players currently dominate the NSW retail landscape, with tens of thousands of small and medium businesses injecting a constant stream of innovation, vitality and diversity into the sector.

Sydney, Australia’s retail capital

The NSW capital of Sydney is a sophisticated international city and Australia's leading retail location, ranked as one of the top retail cities in the world behind cities like New York and Paris.

Sydney is a major global financial centre, commanding credibility, prestige and access to finance among corporate investors in the retail sector. The wide variety of languages spoken in Sydney also makes it attractive to locate regional retail headquarters.

Sydney is also Australia’s most popular gateway for international tourists, who spend around a third (34 per cent) of their expenditure on retail. In 2009, NSW received 2.7 million international visitors, 52 per cent of the total international visitors to Australia.

Shopper’s paradise

Sydney and NSW are increasingly attracting major international retailers of fashion, ’big box’ home décor and innovative retail business models and formats.

NSW has well developed retail and supply chain infrastructure, including major shopping centres, distribution facilities and logistical support in metropolitan and regional areas.

Growth market

Domestically, NSW has Australia’s largest population and an above–average weekly income which promotes strong demand in the retail sector.

Projected population and economic growth within NSW over the next decade will provide opportunity for expansion and diversification of the retail sector.

The roll out of Australia's National Broadband Network will also facilitate an increase in e–commerce both locally and globally. Australia’s e–commerce marketplace is predicted to increase over the next four years from $12 billion in 2010 to $18 billion by the end of 2014.