CHARTS: Retail is showing early signs of life

Chris Pash
By Chris Pash | 3 June 2020
 
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Consumers have started to venture out and spend again following easing of social distancing restrictions due to the coronavirus, according to early economic indicators.

Analysts at UBS say spending signals have been positive and industry data suggests double digit top-line growth in household goods and leisure. 

Clothing and shoes have also improved.

The analysts point to the Commonwealth Bank’s weekly credit card data showed an acceleration in home furnishing and clothing spend.

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And the rate of decline in foot traffic in stores has eased, to a 30% fall, an improvement on the 80% drop off in April.

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Google Trends search data has been strong, despite stores re-opening. JB Hi-Fi, Bunnings, Adairs, Just Jeans, Kmart and Kogan have seen traffic near Christmas peaks.

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