Australian retailers are facing a challenging peak sales season with data showing a projected drop in revenue of 11.99% compared to last year. To address this issue, financial platform Airwallex is hosting a summit called ‘Your Passport to Beyond Black Friday’ to provide retailers with insights and strategies to navigate the upcoming sales season successfully. The event will feature expert speakers from various retail backgrounds, including e-commerce, skincare, and swimwear industries.
Luke Latham, the Managing Director of Airwallex Australia and New Zealand, stated that the summit aims to help retailers maximize sales during a year that has been particularly slow for many businesses. Latham highlighted the importance of understanding the impact of the cost-of-living crunch on consumer spending and finding strategies to maintain and bolster profits. Airwallex is also releasing a guide called ‘Passport to Peak Profits’ to provide retailers with additional expert advice and tips on how to stay competitive and attract customers.
The guide includes various strategies for retailers, such as offering multiple payment and shipping options to increase checkout conversions, integrating AI into the employee and customer experience, adopting revenue-based financing, and accurately budgeting for tax liabilities. The summit will take place on October 5th in Sydney and will also feature a Peak Season Partner Marketplace for attendees to explore and discover solutions to enhance their brands. The summit is open to Australian retailers, and the guide can be downloaded from Airwallex’s website.