Australian retail sales reached their highest levels on record in March, with trade up 9.4% compared to the same time last year. A record $33.6 billion was spent in stores and online, and whilst it’s a phenomenal result, we know that increased consumer prices are a contributing factor, and that spending challenges loom in the months ahead as cost-of-living pressures begin to impact family budgets.
The Federal Election is now upon us, and we are closely tracking and responding commitments by all parties as they relate to our retail community and member needs. We’re calling for far greater certaintyaround how our political leaders plan to address retail priority challenges such as labour and skills shortages, supply chain resilience, small business recovery and of course the greatest disruptor our sector has seen – climate change.
Whilst we must see much greater investment in the future resilience of our economy from our leaders that won’t stop us from working together to accelerate the change as a community. Many of our retail leaders gathered today at our inaugural CEO lunch event – with our Retail roadmap to Net Zero on the menu.
Climate Council Director Greg Bourne provided us with a rousing call to action and the CEO of Greenpeace Australia and other climate influencers joined our high-powered audience of Australia’s leading retail organisations. Together we can lead and inspire the change we need to see in this area – as many of our member organisations have already done.You can see more here.
With significant Covid restrictions behind us, Australia faces immense international cost pressures, which are creating challenging domestic conditions. We continue to advocate for a fair and reasonable position around the annual wage review and you can read our latest submission here.
As always, our membership team is here to help and can be contacted via email or on 1300 368 041.