How the economy put shopping on hold

The Australian retail sector faces a “retail recession sequel” in 2024, as economic challenges persist. Despite brief signs of recovery in early 2023, high inflation, rising interest rates, and a weakening labor market continue to suppress retail sales, with real spending now 6.3% lower than in June 2022. Using DISCUS data and insights from Deloitte and KPMG, this infographic highlights key economic pressures and their impact on consumer behavior and retail performance.