Melbourne's west is home to a number of vibrant retail activity centres. Highpoint Shopping Centre, one of the largest shopping centres in the southern hemisphere, provides diverse retail experiences, along with significant sub-regional centres in Airport West and Essendon Fields, Caroline Springs, Footscray, Melton, Moonee Ponds, Sunshine, Sydenham, Werribee, Williamstown, and Yarraville.
It is estimated that retailers in Melbourne's west had a combined annual turnover of more than $6.33 billion in 2011. Mostly, these sales were generated from within the region, though there was reasonable penetration into the northern suburbs of Melbourne, principally because of the pulling power of Highpoint.
Retail offers scope to grow the economy of Melbourne's west, with this region's population forecast to grow at 2 per cent per annum over the next 20 years. Residents of Melbourne's west currently generate about $8.3 billion in retail expenditure, compared to $6.3 billion in aggregate retail sales – an ‘escape’ expenditure of around $2 billion per annum. This represents a major opportunity for investors and clawing back even a modest proportion of these ‘lost’ sales would significantly boost local employment.
Retail trade is the second largest employing industry in Melbourne's west, generating approximately 27,000 jobsacross the region. Nearly 6,000 are located in Brimbank at the heart of the region, about 5,800 in fast growing Wyndham, and 5,350 in the inner northwestern municipality of Moonee Valley.
Investors in the Retail Trade Industry seeking opportunities in Melbourne's west can contact the economic development units of local governments in Melbourne's west: