Consumers spending more but brick and mortar stores still feel the squeeze
It’s a “mixed bag” for the retail sector as the latest monthly figures roll in.
Consumers spent $26.5 billion in April, an increase of 0.4%, choosing to spend their money on food and household items over clothing and footwear.
Head of Macroeconomics at BIS Oxford Economics Sarah Hunter tells Ross Greenwood the winners and losers are clear.
“Some of the categories that have struggled in the last few years have struggled again. Department stores, in particular, were down 0.9% for the month.”
Clothing and footwear retailers have also suffered a blow, down 0.8% for the month.
But online retail sales are booming, Ms Hunter says.
“They’re growing really, really quickly.”
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