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CLUES FROM THE NEWS
Retail Conditions Fall Behind In August
August saw a complex set of business changes. Business conditions improved. Confidence fell, retail growth lagged behind other sectors, and retail investment lagged, according to the NAB’s August monthly business survey.
NAB Group chief economist Alan Oster noted that "The rise in the month was driven by an improvement in both profitability and trading conditions, while the employment index was unchanged".
The report also noted that retail prices had increased by 0.9 per cent, a large increase over July’s 0.5 per cent increase and June’s 0.1 per cent increase.
Not surprisingly, the report noted that Intense competition and rising operating costs will weigh on many retailers, while those focused on the value they offer to the consumer are likely to do well in terms of both sales and profitability.
And what is your business clue from this news? Only by focussing on value as the customer sees it, will you see sales grow. (Our clients are showing that!)
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