The new normal for retail
Retail businesses across Australia and New Zealand are facing a ‘new normal’ following COVID-19 shutdowns, and the economic impacts of this. Despite the carnage this has caused the retail environment in 2020, there is light at the end of the tunnel.
In CBD markets like Perth, major retailers are saying that they are seeing business return to 70 per cent of sales and they expect this level of activity to remain for the next several years. This gives an indication of how other CBD markets may fare as they recover into a new normal.