Research: Retail recovery on the way

shoppingThe retail sector will strengthen towards the end of 2018 after a slow start to the year, according to CHEP’s latest retail index.

New data compiled through analysis of CHEP pallet movements has found that year-on-year retail turnover growth will improved to 3.9 per cent in August, after clocking in 2.9 per cent growth in June.

Deloitte Access Economics partner David Rumbens said labour market conditions are tightening, putting upward pressure on wages.

“Retailers continue to face difficult conditions in 2018. We do expect wage growth to edge higher through the year as the labour market tightens a little, and stronger wages will be good news for retail spending, driving a modest but broad-based pick-up in spending power across the workforce,” he said.

On a quarterly basis retail turnover is predicted to grow by 2.9 per cent year-on-year in the June quarter, increasing to 3.9 per cent y.o.y. in the August 2018 quarter.

Comments

Comment Manually

Twitter

On Thursday, David Jones' owner Woolworths Holdings announced plans to further reduce floor space in the wake of CO… https://t.co/7Kg47043rk

12 hours ago

Good news for streetwear fans! Champion and HoMie are working on another capsule collection after their first one s… https://t.co/5Afp1Vy48V

15 hours ago

Datalogic's newest device brings a smartphone-friendly experience to various environments, from retail stores to wa… https://t.co/p807B0vDlp

16 hours ago