There’s a lot of talk in the media at the moment about the soft retail market. Consumer confidence is downAustralian Consumer Confidence, Trading Economics and we (as we’re all consumers) are not spending like we used to, or at least we’re not spending like the retailers would like us to, and that when we do spend that we’re running to cheaper online retailers. I’m not sure that this is the whole story though.
With a spare Sunday afternoon on my hands I decided to spend some time trawling through the ABS retail data and take a look beyond the month-on-month trends. Working on an Australian version of the Shift IndexThe Shift Index: Measuring the forces of long term change, Deloitte has nudged me to wonder about the long term trends that are affecting retail.