10 March 2006
If you have bought a coffee or juice from a well-known outlet, recycled your computer printer cartridge or munched on a burrito, you have probably played your part in a boom that is redefining Australia's retail industry.
The franchise industry is experiencing explosive growth, according to the Australian Retail Snapshot for 2005, released today by the Australian Centre for Retail Studies at Monash University.
The top 10 fastest growing franchises of 2005 were: The Crepe Café, Boost Juice Bars, Caffe Primo, Cartridge World, Healthy Habits, Howards Storage World, Burgers Burritos Nachos Tacos (BBNT), Gloria Jean's Coffees, PoolWerx, and Oporto.
"This country's $80 billion franchising sector has now cemented its dominance in retailing and has been adopted by thousands of operators - big corporations as well as small and medium-size businesses," said the centre's Executive Director, Ms Amanda Young.
The centre's report also identified a new trend -- the 'pop up' store -- a temporary outlet that sets up in a retail precinct for just a few weeks. "An established store or label sets up a small but sophisticated retail outlet to promote a new product or take advantage of a retail peak," she said.
"Krispy Kreme donuts established a pop up in Melbourne's CBD recently. They did not advertise, but consumers were alerted to the new outlet through email and text messages," Ms Young said.
"It was all about brand awareness and it was very successful because it introduced Melburnians to the donut brand that has been operating in Sydney for a couple of years."
In its report, the centre also identifies the emergence of the young male shopper. "Young men are taking control of their lives, and they want to choose their own clothes, rather than leaving that role to wives, girlfriends or mothers," Ms Young said.
The findings are contained in a 120-page report that also features comprehensive analyses of Australia's leading retailers. The Australian Centre for Retail Studies, in the university's Business and Economics faculty, provides research, management education programs and promotes retailing as a career.
For further information contact Ms Robyn Anns, Media Communications, +61 3 9905 9317 or 0417 568 781.
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