TRADING HOURS – LET THE MARKET SPEAK

Realmark Commercial director John Percudani says when it comes to trading hours, we should forget the referendums and simply let the market speak.

“When the issue of trading hours rears its head, there is always one fundamental that is left out of the conversation every time and that is what the market wants,” Mr Percudani said.

“Obviously there are stakeholders who are threatened by the extension of trading hours who are being protected by these regulations, however there is a lot of time and resources spent on this debate when if we just let the market speak, the people of WA would be getting what they want and the market would find its own equilibrium.

“It may be a crazy notion to some, but the fact is, if there is specific demand for extend trading in certain suburbs and strips, businesses that operate in these areas will profit from this and stay open. In areas where the demand isn’t strong enough to make staying open later or on Sunday’s profitable, those businesses will only be open when it is profitable to do so.”

“It is not a complex equation, it is just the way it is. We are trying to regulate something that really should be allowed to happen naturally, like it does elsewhere in Australia,” he said.

“Why are we telling people when and where to shop? The market should be telling us. The fact is consumers will go elsewhere, maybe online if they can’t find what they want, when they want it.

“In an age of every increasing consumer assess and individuality it is the consumer who should be dictating the trading hours agenda not politicians or retailers.”

Mr Percudani says more flexibility around trading hours would encourage more vibrant hubs throughout Perth.

“You can not artificially create the village centre, it is something that happens over time and it cannot be controlled by planning or regulating trading hours, we need to have the foresight to see that,” he said.

“I fear we are crushing creativity and opportunity by being lead by specific stakeholders on this issue. While some sectors will be impacted by opening up trading hours, so many will benefit and so will the people of WA.”