Stormy seas ahead for retailers

Australia, along with many retail markets across the globe find themselves in a highly uncertain retail environment as inflation, reduced consumer sentiment, and high post-pandemic inventories threaten to sink their prospects.

The KPMG Financial Performance Index (FPI) for the last quarter of 2023 has revealed that high interest rates and weak customer sentiment are creating a highly uncertain retail environment in many markets across the globe. The FPI also revealed that even though retail turnover in Australia has increased more than anticipated in 4Q23, underlying spending momentum has been lacklustre as inflation-adjusted sales have declined for three consecutive quarters and have not kept pace with population...

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Authors: James Stewart

Published Date: 24 April 2024