Retail Sales Flag as Queenslander Keep Wallets in Pockets Amidst Population Surge: CCIQ

Friday 5 October, 2018 | By: Dan Petrie

A subdued retail environment continues to weigh on the Queensland economy as a respite in consumption remains elusive despite the state’s population growth over the last 12 months.

The Chamber of Commerce and Industry Queensland (CCIQ) notes that spending in the normally resilient café and restaurant sector has seen a structural decline of 6.6% decline since October, 2016 whilst food sales in supermarkets reflect a trend of more people staying in.

CCIQ Head of Media and Industry, Dan Petrie said Queensland’s retail sector has endured a year where shopkeepers are trying to remain competitive amidst shrinking margins, competition and a consumer that is exercising considerably more restraint than in previous years.

“The flow on effect of a low inflation environment, low wage growth and a degree of nervousness around the wider economy continue weigh heavily on both businesses and consumers.

“There needs to be a circuit breaker as the current outlook feeds a lack of confidence and it starts with having a cup of coffee,” Mr Petrie said

CCIQ calls on both Federal and State Governments to provide united leadership to drive confidence back into the consumer in the Sunshine State.

“A cursory look at NSW and Victoria, particularly where the latter is enjoying higher levels of private sector investment are simply leaving Queensland behind.

“While privatization is a dirty word in Queensland, the effect of asset recycling has had a significant benefit for the Southern States, Mr Petrie said.

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Dan Petrie
Media and Communications – Economy and Government
Chamber of Commerce and Industry Queensland
Ph No: 07 3192 0120 (Landline)
Media - Direct: 0418 793 967
Dan Petrie -Mobile: 0408 919 767 
Email: dpetrie@cciq.com.auRetail1

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