Worst yet to come for Myer and David Jones, says expert

If the endless influx of global retailers is hitting David Jones and Myer where it hurts, it is just the beginning, a retail expert says.

Retail Doctor founder and chief executive Brian Walker points to Deloitte’s Global Powers of Retailing report, which said that of the top 250 ­retailers, just 15 percent had a presence in Australia. "That means there’s a lot more to come," he said.

Nearly five years after cult denim retailer Gap opened its first Australian store in Melbourne, a steady stream of international retailers have invested in Australian bricks and mortar. The long list includes Sephora, H&M, Uniqlo, Zara, Topshop, Pottery Barn with Williams Sonoma, and Victoria’s Secret.

Walker said the success of the international brands reflected Australian and New Zealander’s love of travel and awareness of these brands, as well as the online presence the stores had before launching. "Australian retailing is not facing a cyclical change but a large structural change," he said.