Deloitte Access Economics partner David Rumbens says with high inflection, consumers are spending the same but buying less which has ‘eroded the value of spending’.
“Consumers are getting less of their dollar with price growth of about 2.5 per cent in that time,” Mr Rumbens told Sky News Australia.
“For retailers, it also means that revenue growth doesn’t all go to the bottom line; the bottom line moves more with the volume of sales so retailers are … seeing a decline in their profits over this period.”
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