Inside Retail: “Reignited appetite” - Why retailers are seeking greener pastures overseas

Image Credit: Inside Retail / Toys ‘R’ Us

Australian retailers are increasingly looking overseas for growth, with more than half of mid-size companies planning international expansion in 2023. RetailOasis notes that “it’s become easier for retailers to expand internationally due to increased accessibility to global markets” following Covid-19, as many brands strengthened their e-commerce and technology infrastructure. Fashion label Rebecca Vallance is expanding into Selfridges, London, and planning further bricks-and-mortar growth in London and New York, while Toys “R” Us is re-entering key markets such as the UK and US. The expansion comes despite global economic pressures, with Retail Oasis highlighting that “Australian brands, particularly in food and beauty categories, are perceived to be high quality at an international level,” making overseas growth more viable. Read the full article here.