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Christmas Joy for Some Retailers, Could Be the End for Others The run into Christmas is looking more positive for retailers than previously expected, but for some businesses it could prove to be the final test of survival after torrid 2020. Deloitte Access Economics says the industry has weathered the COVID-19 pandemic remarkably well and the December quarter will be the first with limited COVID-19 restrictions since the second wave crisis hit Victoria. Pent up demand was already starting to lift spending through the month of October, following the sharp 6.5 percent rebound in retail volumes ...

MacroBusiness Access Subscriber Only Content Below are retail sector forecasts from Deloitte’s latest Deloitte Access Economics’ latest Retail Forecasts shows that retail spending has weathered the COVID-19 storm remarkably well to date. With restrictions easing and a measure of pent up demand unleashed,  retailers experienced a 6.5% surge in spending volumes over the September quarter. That surge means that overall retail sales are currently sitting well above pre-COVID levels. Retail’s strong performance is due in part to opportunity – consumers aren’t able to spend as much on...

Australians Ending 2020 in Upbeat Mood Consumer confidence has struck new highs for 2020, which should have retailers rubbing their hands in anticipation of a strong Christmas shopping season. The ANZ-Roy Morgan consumer confidence index rose 1.7 percent in the past week to 111.2 points, with most of the survey’s sub-indices now back or even higher than their pre-pandemic levels. The ‘confidence in future economic conditions’ index is at an 18-month high. However, one exception to the trend, ‘current financial conditions’, is still 10 percent lower than at the start of the COVID-19 ...