The world of retail: Challenges and opportunities

By Mario Diaco

In Victoria, businesses are currently grappling with significant challenges stemming from rising interest rates and inflation. As a result, many businesses, especially those in the retail sector, have been prompted to carefully strategise for customer retention and revenue growth. We caught up with Mario Diaco, owner of Diaco’s Garden Nursery, to gain valuable insights into the world of retail and explore the existing challenges and potential opportunities in the ever-changing retail landscape.

“First and foremost, it’s been a relatively quiet period for us in terms of overall business activity. Last year’s lacklustre spring, combined with unfavourable weather conditions since then, has impacted the footfall in our nursery. However, despite the challenges, we are grateful to see that spending has remained steady. Customers have become more conscious of their expenses and are looking for value in their purchases.

“To cater to these evolving customer needs, we have focused on offering more value through our Diaco’s core range. By providing high-quality products at affordable prices, we aim to ensure that every customer finds something worthwhile in our nursery.

“The broader retail landscape has also been facing its fair share of obstacles. Inflation and rising interest rates have become challenges for businesses across the board, not just for retail garden centres like ours. Nevertheless, we are encouraged by the fact that people continue to invest in plants and gardening products. With the increasing cost of groceries, many people are finding they can save some money by growing their own food by cultivating fruit trees and vegetable seedlings.

“In light of these circumstances, we believe it is essential for retailers to proactively manage their running costs. We encourage you to review your current insurance policies and explore ways to save. Additionally, monitoring your water system and optimising its efficiency can contribute to cost savings. By taking a closer look at these aspects, retailers can navigate the challenges more effectively and maintain a sustainable operation.

“We have noticed a renewed interest in perennials and vibrant colours among our customers. Salvias, nepeta, plectranthus, and other varieties have gained popularity. These beautiful plants not only add visual appeal to gardens but also offer longevity, making them a wise investment for avid gardeners.

“As we observe shifting trends in customer preferences, we are pleased to announce the launch of our new Garden Design Service. Over the years, we have witnessed a growing demand for this personalised offering. This service not only allows us to better connect with our customers but also provides them with the opportunity to achieve their dream garden. Whether it’s incorporating specific plants or creating a cohesive design, our team is here to assist you in bringing your vision to life.”

Diaco’s Garden Nursery have stores in Mornington, Heatherton, Geelong and Keilor.We believe in the value of local garden nurseries, where staff have the time and the passion to chat with you and offer valuable, practical advice for your gardening needs. Our team lives and breathes plants and gardening.