Following on from UBS’ downbeat forecast for Christmas retail sales, illion Data Registries has reported that retailers have “hit the wall ahead of peak sales season”, with “Australian retailers going bust in record numbers”:
The latest analysis from illion reveals the sector’s failure rate hit record levels during the September quarter of 2018. The failure rate for retailers has reached 0.82 per cent, which is 1.5 times the overall failure rate for all Australian businesses (0.55 per cent).
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Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
