Interest rates are obviously a factor in retail performance and sales, but also on the costs of doing business.
While these changes wouldn’t necessarily guarantee lower interest rates, it’s certainly a development to keep an eye on.
Today’s inflation results from the ABS reveal that inflation has stabilised, which could help with more stable trading conditions if that remains the case.
The ARA has been calling on the RBA to consider the wider ramifications of consecutive interest rate rises, and we were pleased that interest rates were paused this month.
The government has also handed down its long-awaited electric vehicle strategy, including plans for a fuel-efficiency standard, more public charging stations and local recycling of batteries.
Both businesses and individuals are well aware of the benefits of electric vehicles, but ultimately cost remains a factor in their uptake.
We’re pleased to see the electric vehicle discourse priortised and hope we can move towards a future where EVs are widely available, affordable and convenient which will have a very real impact on the transportation of goods and has the potential to assist greatly with sustainability in the retail industry.
Finally, at the ARA we’re approaching a very sentimental and nostalgic milestone. Preparations are underway for the ARA’s 120-year anniversary, celebrating 120 years in informing, advocating, educating and unifying the retail industry.
I’m reminded of the old adage that ‘it takes a village’ and the ARA certainly wouldn’t be where it is today without our loyal and supportive members.
On behalf of the ARA, we thank you for your continued support.