Home topics news eCommerce Economy News eCommerce Retail sector must adapt and change: Shorten Lorna Brett August 8, 2011 Assistant Treasurer Bill Shorten has spoken about the Productivity Commission (PC) draft report into the future of the retail industry released last week, declaring the review makes it clear the Australian retail sector has a bright future but needs to continue to innovate and change. Flanked by the Minister for Small Business Nick Sherry, Shorten told a press conference that his Government believes challenges faced by the retail sector are national challenges, but also provide opportunities for the industry. “We need to be crystal clear here though. We think for the retail sector to flourish and continue to grow in Australia, the challenges are not just those for Government to resolve.” The PC’s draft report highlights the need for the retail sector to continue to innovate and adapt to changing consumer demands, Shorten said, as well as changes to the global environment. He stressed the Government would not rule on any of the draft propositions, citing the likelihood that upcoming public consultations and discussions would impact the final report, due to be released at the end of the year. Despite his unwillingness to comment on the Government’s likely rulings, Shorten did delve into the PC’s findings about the costs of abolishing the GST exemption on goods bought for less than $1000 from international websites. “The Productivity Commission says this would cost the Australian taxpayer $1.6 billion, to collect the tax that