Millions of Australian’s are now in lockdown and businesses are expected to feel more pain despite optimism just weeks ago that things were finally getting to normality. With retail stores asked to closed in much of NSW, Victoria and South Australia, retail is expected to feel the brunt of the restrictions.
The Delta strain of the Coronavirus has pushing Australia to the brink with crippling shut downs. A report by the Australian Bureau of Statistics has released retail figures for June which has shown that the turnover fell 1.8 per cent, seasonally adjusted. Victoria experienced the biggest drop in retail with a decline of 3.5 per cent. It is without surprise that July figures will be dramatically lower with a much great portion of the country plunged into lockdown.
In June, Victoria had shut downs early in the month but the government reduced these mid month but then later in the month Sydney had a Coronavirus cluster which imposed various restrictions around the state.
The biggest retail losers were cafes, takeaway, clothing, footwear and restaurants and July will prove to be the biggest drop in sales for 12 months. The Commonwealth Bank economists are predicting a 0.7 per cent drop in the September quarter. Government support is not as forthcoming as it was in the first wave so consumers will not be out in force as they were previously.
People are now flooding back to online shopping in droves. Stores such as Showpo are continuing to flourish. If you’re shopping at Showpo, use a Showpo promo code to save on your purchase.