Lowe’s planned 2011 entry into Australia, via a minority stake with partner and leading domestic retailer Woolworths, will provide the U.S. home improvement retailer with a low-risk opportunity to learn about expansion in foreign markets beyond North America and prepare it for a higher-risk, longer-term move into Asia. Although Australia is a relatively small retail market, it is among the developed countries that came through the global financial crisis relatively unscathed. Australia’s economy and housing market continue to thrive, and the outlook remains positive as China’s insatiable appetite for Australia’s natural resources continues to fuel population, job, and income growth.
Point of View A Small but Low-Risk Opportunity Severe Housing Shortage A Competitive Retail Landscape Implications List of Tables
Population and Size of the Economy by Country, 2009 Australia: Population of Largest Cities Existing House Price Index Quarterly Housing Starts Annual Housing Start Forecast Spending on Retail-Related Categories excluding Automobiles by Country Australia Retail Trade by Industry Group Top Retailers in Australia, 2009 Top Hardware and Home Improvement Retailers and Distributors in Australia and New Zealand Bunnings Store Count, 2008/2009 Woolworths and Lowe's Joint Venture Proposed Development Plans for Coolaroo Store
For more information, contact Maybelle Trocio-Ball at mtrocioball@retailforward.com.