New research reveals that Adelaide retailers are experiencing a resurgence, with retailers in the region recording 24% growth in average transaction value over a 12 month period.
The research from Vend, shows that that average transaction values increased from $46.32 in 2018 to $57.70 in 2019, equating to more than double the national average in the same period.
The insights also reveal that Adeladian retailers have the second healthiest margins of any city in Australia, sitting at 59% – a 1% increase on 2018 – while six of the eight major cities recorded narrowing margins since 2018: Sydney (6% decrease), Brisbane (6% decrease), Melbourne (3% decrease), Perth (1% decrease) and Hobart (1% decrease).
Adelaide is also one of three of Australia's major cities which is experiencing monthly revenue growth, increasing by 2.17% from $30,043 in 2018 to $30,696 in 2019.
Melbourne also experienced monthly revenue growth of 1.23%, while the average monthly revenue growth for retailers in Sydney declined by more than 10% in the same period.
Vend APAC MD Dave Scheine, said that Adelaidians like to shop local hence the strong results from indepenedent retailers.
"Driven by a vibrant independent retail community, Adelaide is a city emerging from the shadow of Melbourne and Sydney – which are traditionally seen as shopping and tourist destinations – to reveal a city that is both innovating and thriving.
"Consumer shopping behaviour is changing faster than any other time in history, and in Adelaide, we’re seeing independent retailers embrace technology to run their businesses more profitably.
"With technology assisting them, independent retailers – from homeware and floral, to fashion and confectionary – are winning.
"Our data shows their businesses are generating more revenue, earning considerably more per transaction, increasing their margins and satisfying the city’s strong appetite for shopping local.
"It’s an extremely exciting time to be an independent retailer in Adelaide," he said.
The data showed that the average basket size for shoppers in Adelaide is an average 2.29 items per transaction, while the average recorded for the other major cities sits at 2.12 items per transaction.