At the time, NAB economists warned negative sentiment could prevail over the long term as more "gloomy" news about the economy is revealed. On Wednesday, NAB said retail sales might rebound over the coming months but noted they would be restrained by "massive job losses".
"There's a pent up emotion around getting back to shopping, and I think when that opportunity comes people will return," he said. "But they will be more cautious."andshoppers were prioritising "needs" and being far more selective about "wants". Parent company Wesfarmers warned investors last week that sales at Kmart and Target had declined throughout April.
However, not all retailers are downbeat about the road to recovery, with JB Hi-Fi chief executive Richard Murray expressing cautious optimism that once Australians return to work and stay-at-home restrictions are eased, regular shopping habits will resume. "Australians have been cooped up in their houses and I think they're probably keen to get out and about, and retail's a big part of that."
No one I’ve spoken to wants to spend, even when shops re-open. Saving is becoming a habit. So good luck trying to get the economy ‘started’ again.
Yes, why not more stuff you don't need.
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