Retail Expected to Recover Strongly

The stock market is looking stronger with Australia positioned extremely well with their Coronavirus management and control. Investors are looking at the market favourably with the expectation that it will make a V shaped recovery.
The retail sector is worth $300 billion to the economy and is a vital piece of the governments plan for a full economic recovery. During the month of May, discretionary spending made a recovery however this was on the back of a significant government stimulus in the form of the jobseeker payment increase and the new jobkeeper payment.
The big concern from the retail industry is the growing chatter around phasing out the jobseeker payment increase and reverting back to the old payment amounts. This will have a big affect on discretionary spending and could send the economic recovery backwards.
UBS has put out their retail report and it shows that discretionary spending made a comeback from April 25th with fashion, footwear and household goods the biggest winners. Household goods rose over 20 percent in May. Based on credit card data, spending during May increased by 4 per cent.
Online stores continue to perform strongly. Catch has benefited from the increase in online shopping being one of the largest online stores in Australia. You can save from Catch with a Catch coupon code for your purchase.