Victorian Lockdown Kills Retail Trade
The recent Victorian lockdown caused a statewide retail slump that impacted the nation’s COVID recovery.
Retail trade was expected to enjoy a national lift of 0.4 per cent in May, but ended up only 0.1 per cent ahead, with Victoria’s 1.5 per cent fall wiping out 1.5 per cent gains in Western Australia and Queensland.
Analysis from KPMG found the fourth lockdown cost Victorian retail $125 million a day.
“Lockdown Four has hit Victoria hard. With every lockdown comes a drop in consumer confidence and reluctance to spend on non-essential items,” Victorian Chamber of Commerce and Industry boss Paul Guerra said.
“We can’t have any more lockdowns. The Victorian Chamber is advocating for a detailed and comprehensive plan from the State Government to deal with future COVID-19 outbreaks that formally considers business submissions as well as the health advice.”