REDLANDS COAST CHAMBER OF COMMERCE UPDATE
By president Suzie Tafolo
THE retail sector on the Redland Coast continues to be a vital part of the local economy.
As of the 2023/24 financial year, it contributes $7.38 billion to the region’s Gross Regional Product (GRP) and employs over 6600 people, making up 12.4 per cent of the local workforce.
Despite these strong figures, local businesses are facing several challenges.
One of the most pressing issues is the rise in rents.
Many businesses in areas like Victoria Point and Cleveland have been forced to close, struggling with high rents and overheads.
This has led to increased pressure on local small businesses, but it’s also sparking creativity as businesses find new ways to adapt, and doing it well.
Another challenge is shifting consumer habits.
With more people opting for online shopping and hybrid models, retailers need to adjust to changing expectations.
Consumers now want convenience, personalised experiences, and the ability to shop from anywhere.
Local businesses have a chance to meet these demands by enhancing their online presence, offering easy digital and in-store shopping options, and leveraging social media.
On a more positive note, Redland Coast businesses are also discovering the power of in-person experiences.
Events, pop-up shops, and collaborations are helping draw customers back into physical stores.
Many local businesses are taking part in vibrant markets, showcasing their products to a wider audience and building stronger community connections.
This not only helps businesses stay visible but also fosters a sense of support and unity among entrepreneurs.
The sense of community on the Redland Coast remains one of its greatest assets.
Locals are passionate about supporting businesses, and those who engage through events, partnerships, or charity work are seeing that support in return.
For those looking to stay ahead, the Retail Toolkit offered by the Redland City Council found on its website is a valuable resource to help businesses that is filled with templates and business planning to put retailers a step ahead of the game.
