Retailers hit wall ahead of peak sales season
Australian retailers are going bust in record numbers. The latest analysis from illion reveals the sector’s failure rate hit record levels during the September quarter of 2018. The failure rate for retailers has reached 0.82 per cent, which is 1.5 times the overall failure rate for all Australian businesses (0.55 per cent).
“The retail sector is battling weak consumer confidence, falling house prices and competition from online and overseas competitors. One of these alone would hurt growth, but all three is a tough combination, and the results are clear in our latest analysis.”
Simon Bligh, illion CEO