As the Australian market continues to see a surge in large scale developments, it’s only natural that global luxury retailers will be looking to expand their footprint in the country. In fact, analysts have estimated revenue from luxury sales is expected to grow at an annualised 5.4 per cent over the five years 2027, to total above $5 billion.

However, with so many building partners to choose from, it’s imperative these brands choose wisely to ensure their expansion is a success. That’s why we’ve compiled a list of the top 5 key factors to consider when choosing a building partner for luxury retail expansion projects in Australia.

Proven Track Record: A building partner that has a proven track record of successfully delivering similar projects in the luxury retail industry is a great indication that they have the expertise and experience to deliver your project as well. The more testimonials, references and repeat clients, the better.

In the Details: Did you know that according to a study by the National Institute of Standards and Technology, a lack of attention to detail can lead to an average of 20% increase in project costs? In the brick-and-mortar retail industry, customer experience is everything. Consumers come to immerse themselves in the brand, therefore selecting a shopfitter that has a reputation for paying close attention to every aspect of a project, from design, to manufacturing joinery and steelwork, to installation is vital to ensure that your finished product reflects the quality and prestige of your brand.

Efficient Resource Management: A building partner that is efficient in managing their resources, including contractors and suppliers both locally and globally is crucial for a smooth and timely delivery of your project.

Communication is Key: Strong communication and collaboration skills are key for a successful building partner. A building partner that is able to effectively communicate and collaborate with all stakeholders, including the design team, contractors, and suppliers, will help ensure that your project is delivered on time and within budget. For instance, Unita employs Nexvia, a cloud-based project management tool, to give clients real-time access to their project portal, where they can monitor progress and expenses.

Flexibility and Adaptability: The luxury retail industry is constantly evolving, and it’s essential to select a building partner that is flexible and adaptable to changing market trends and customer needs. A building partner that is able to adapt to changing circumstances and find creative solutions to problems will help ensure your project’s success.

In conclusion, whether expanding or entering a new market, it’s important to take a deep dive into potential building partners, and consider their proven track record of executing similar projects, their passion for delivering detail, how efficiently they manage contractors and suppliers, how well they communicate, and their ability to adapt to new challenges.

Don’t have the time? Look no further. Unita’s national retail team are Australia’s leading experts in delivering high-quality retail projects, making us the ideal partner to consider for your next project.

Want to learn more? Get in touch.