Deloitte Access Economics is upbeat about the outlook for Australian retailers, forecasting that consumer spending will remain strong as the domestic economy continues to rebound and COVID-19 restrictions ease.
The firm’s quarterly Retail Forecast report notes that lockdowns and travel restrictions have boosted retailers’ sales, which should result in a “bumper year” for the sector in 2020-21. However, sales should revert to normal as the economy opens up:
The Deloitte retail report argues retail spending has surged through most of 2020-21, benefiting from “captured consumers” locked in homes, unable to travel and who had little else to spend on through the pandemic…
