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Deloitte Forecasts 2.6% Retail Growth Next Financial Year

Deloitte analysts have forecast a modest lift in retail turnover next financial year – climbing from 2.4% growth in 2017-18, to 2.6% in 2018-19.

The news is likely to provide a glimmer of hope for some retailers, amid rising e-commerce and the expansion of Amazon Australia.

Household goods retailers are expected to face continued margin pressure amid heavy competition.

Whilst global retail growth climbs, a low Australian dollar has hampered import-based margins.

The Deloitte Access Economics report forecasts a dip in discretionary spending, following weak wage growth and the housing market decline.

Strong population growth may benefit the sector, however, is at risk of being hampered by increased household debt and the growth of international rivals.

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