This publication presents key trends in the City of Melbourne's retail and hospitality sectors, and outlines a strategy intended to support these sectors.
The Melbourne Retail and Hospitality Strategy 2013-2017 is a joint initiative of the City of Melbourne and the Victorian Government. It describes the great strengths of both sectors and their importance to Melbourne, sets out the key challenges they face and details how we will work to achieve our vision of Melbourne as a ‘globally sought after retail and hospitality destination’.
The strategy builds on and integrates with the previously separate Melbourne Retail Strategy 2006-2012 and Melbourne Hospitality Strategy 2008-2012. In line with this approach, a newly established Melbourne Retail and Hospitality Advisory Board will guide the implementation of the strategy over the next four years.
The strategy is underpinned by extensive consultation with city and national businesses, the events sector and local and international retail and hospitality experts. The strategy also draws on research and data to Illustrate Melbourne’s significant change and growth, and to provide a sketch of its retail and hospitality potential.
The retail and hospitality sectors are vital to Melbourne and Victoria. The strategy highlights six important trends in the future development of the sectors. These are: flexibility; getting connected; reinvigorating empty spaces; creating experiences; understanding your customer; and ethical consumption.
Other trends, such as online shopping, the fluctuating Australian dollar, competition from major suburban malls, sustainable practice and green marketing have presented particular challenges to the retail and hospitality sectors in recent times.
The strategy is based on four strategic objectives to stimulate the future development of the retail and hospitality sectors:
1. Business development and innovation
2. Positioning and activation
3. Business diversity
4. Environmental sustainability.
More than 40 actions to achieve these objectives are outlined, along with relevant business case studies from Melbourne and around the world.