New Retail Score Index launched for Australian market

The Retail Score has launched a new Performance and Benchmark data service, specifically designed for Australia's speciality retail sector.

The newly introduced Retail Score Index is a noteworthy addition to the retail landscape. This service has already attracted more than 100 retail brands and encompasses over 3,500 retail locations across Australia. The inclusion of this data service in the Australian Retailers Association (ARA) weekly newsletter aims to keep industry stakeholders informed with the latest performance insights.

Paul Zahra, Chief Executive Officer of the ARA, remarked that the Retail Index has arrived at a crucial moment for the retail industry. "The Retail Index comes at an important juncture for the retail sector," he said. "With the Australian Bureau of Statistics changing its approach to recording retail trade data in 2025, the industry is facing an information gap. Data relating to retail trends is essential for our sector, and helps our members make informed decisions that reflect the real-time preferences of shoppers."

The Retail Score was co-founded by Wayne Rigney, who also serves as a Director. Rigney has extensive experience in the retail sector and is a key figure in data analytics for retail performance. He elaborated on the need for alternative data sources, stating, "As one of Australia's largest industries, the retail sector boasts an annual value exceeding AUD $400 billion. Historically, retailers have relied on the Australian Bureau of Statistics (ABS) Retail Trade information for monthly performance benchmarks. However, with the ABS discontinuing this publication in 2025, there is a pressing need for alternative data sources."

Current figures exhibit growth in the Australian retail sector. According to data captured up to the close of trade on the first ten days of November, there has been a year-on-year sales increase of 3.8% and substantial growth in gross margins. This improvement exists despite slightly higher prices and reduced discounting. These figures reflect a positive trend, contrasting with previous year-to-date numbers from July showing a decrease in sales, volume, and transaction counts.

Rigney commented further on the data insights provided by the Retail Score Index, stating, "More interestingly, the average sell price is UP over 3.7% YTD as are the Gross Margins % and the YTD drop in Gross Margin $ is only 0.6%. It's those Gross Margin $ that pay the bills and this is the kind of insight the Retail Score Index can provide that differentiates it from other consumer and retail sentiment data sets."

The service aggregates data across a variety of retail types, including physical stores, online platforms, and outlets. This aggregation involves metrics related to sales, margins, pricing, and transaction volumes. Retailers will be able to use this data for like-for-like sales analysis, which can offer insights into underlying retail health by factoring out impacts from new openings or closures.

Paul Zahra is optimistic about the potential advantages this service presents: "This is something that has been challenging for many retailers, and if everyone gets behind this, it will only make the Index better." Participation in the service requires retailers to contribute their data, which is incentivised by setting the service at an accessible price point to encourage widespread engagement.

The provision of performance benchmarking, property analysis, purchasing behaviour examination, and insights into pricing and promotion strategies are key features of the Retail Score Index. Wayne Rigney believes that, "We power the analytics and reporting for over 100 retailers. We create a critical benchmark for the retail industry. Retailers can get the greatest return from our data insights."

Wayne Rigney's career has been marked by his efforts in transforming retail data analytics into actionable strategies, aiding retailers to navigate consumer behaviours and market trends more effectively. He has also contributed significantly to the success of ZJOOSH, a retail brand co-founded with his wife, maintaining a prominent presence in Australia's retail scene over the past decade.