Australia’s retail sector has been warned to prepare for a tough period as compounding pressures threaten to send spending plummeting.
Australia’s retail sector has been warned to prepare for a tough period ahead as the compounding pressures of inflation, weak consumer confidence and worsening COVID case numbers threaten to send spending plummeting.
Retailer Mark Mezrani, who operates 50-odd Kidstuff stores around the country, agrees that any COVID-related benefits for retailers appear to have worn off, and the outlook is increasingly grim. Kidstuff runs 58 stores selling educational toys, with owner Mark Mezrani saying he’s reluctantly had to raise prices.These results could be a canary in the coalmine for the Australian retail sector according to Jarden analyst Ben Gilbert, who believes local retailers run around three months behind their international peers.
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