The closure of many well known retailers shows the plight of bricks and mortar stores in Australia.
The collapse of many household names, including Pumpkin Patch, Marcs, and David Lawrence highlights the plight of Australian retailers, who are struggling to compete with the rise of e-commerce websites.
The convenience and instant gratification of online shopping revolutionised the retail industry. However, this is only the beginning. With global giants such as Amazon entering the Australian market, there are grave concerns about how local retailers can sustain themselves against such large scale competition.
The plight of bricks and mortar stores is exemplified through the demands of the industry, particularly fast fashion. Instant gratification plays a huge role in consumers constantly searching for the next best thing. With the bombardment of Instagram trends and what certain influencers are wearing, the climate has shifted to benefit retailers who can meet these demands.
Subsequently, traditional bricks and mortar operations are left to shrivel as they fail to adapt to changing customer desires.
If you would like more information on company liquidations, or are considering one yourself, then please contact CRS Insolvency Services. Our consultants are all highly trained in corporate insolvency assignments. We will provide professional advice to help you make the best decision for your company while avoiding personal liabilities. Contact CRS Insolvency Services on 1800 210 073 for 24/7 free expert advice now.