Australian Retailers to Face A Gloomy Second Half of 2022

Australian Retailers to Face A Gloomy Second Half of 2022
People shop at a market in a suburb of western Sydney, Australia, on April 27, 2022. Saeed Khan/AFP via Getty Images
Alfred Bui
Updated:

Economists have predicted that Australian retailers will see their sales slowing down in the second half of 2022 as consumers are reducing their spending due to living cost pressures and interest rate hikes.

In its latest quarterly retail forecasts report, Deloitte Access Economics said it was likely that most of the growth in retail revenue would be due to prices rather than volumes in the next few years.
Alfred Bui
Alfred Bui
Author
Alfred Bui is an Australian reporter based in Melbourne and focuses on local and business news. He is a former small business owner and has two master’s degrees in business and business law. Contact him at [email protected].
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