GENERAL NEWS
WHILE Australia’s retail landscape is currently witnessing weak consumer sentiment and real terms sales declines, relief may arrive as soon as the end of 2023.
According to Deloitte’s latest edition of Retail Forecasts, the final quarter of 2022 already saw a drop in sales and sentiments, as...
“What was seen as a risk to retail sales in the first half of 2023 became a reality for retailers in the December quarter of 2022,”
David Rumbens, Principal report author and Deloitte Access Economics partner.
“We’re entering a period where higher interest rates will take a chunk more out of disposable incomes for consumers and increase the proportion of mortgage holders at risk of...
Consumers are responding to the current economic environment by looking for lower cost alternatives, with 27% choosing store brand products in...
“Non-food sectors are forecast to experience the brunt of the retail slowdown as consumers prioritise non- discretionary items, with real non-food sales expected to...
“The tight consumer environment risks real retail spending going further backwards over the first half of 2023, and this may result in weak growth of just...
Deloitte is forecasting a return to growth by 2024, or even by late-2023, with wages expected to lift andmigrants and tourists to return in droves.
Late last month the Chinese Ministry for Education announced students must return to campuses, after deciding that “Diplomas and degree...
Retail turnover is expected to recover next year, reaching 1.9%, driven by non-food increases of 2.4% and food retail increases of 1.5%.
“Real wage growth and consumers getting their spending mojo back, population growth, a return of tourists and a pick-up in residential construction will...