Retail sales growth in Australia has been very weak for several years. There is little chance of improvement over the next 18 months.
All four main economic drivers are currently either not supporting growth or negatively impacting growth. Consumer spending sentiment is quite good, but there is insufficient income growth for consumers to respond.
Then there is the imminent federal election – what impact will that have?
Scenarios for growth over the next 18 months are provided.
Retailers are facing challenges, but there is also opportunity. The report is available from foreseechange.