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As Gen Z gains economic power and cultural influence, Australian retailers must adapt to its distinct values, behaviours and expectations. By 2029, this cohort expected to make up a large proportion of the population will reshape the retail landscape in profound ways. Leveraging insights into their lifestyle, aspirations, and consumption patterns, retailers can position themselves for success in this evolving market.
Iceland boss Richard Walker has stood behind farmers following the governments proposed inheritance tax changes, claiming the Treasury has parked its tractor in the wrong place. The supermarkets managing director criticised Chancellor Rachel Reevess decision to reduce the relief entrepreneurs can claim when passing their company on to their children with any assets above 1m subject to a 20% tax.
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Retail Times publishes international & UK retail news covering products, data, tech, packaging, people, research, comment and more besides! By Jack Shaw, senior editor of Modded Magazine The United States’ tariffs targeting the technology, textiles and automotive industries are a ripple that travels across the global economy. They create unintended consequences for companies worldwide by driving up manufacturing costs, disrupting supply chains and altering trade dynamics.
Speaker: Matt Sunshine, CEO at The Center for Sales Strategy
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Retail sales improved 4.6 per cent year over year $36.99 billion in December, thanks to higher turnover across all categories. Australian Bureau of Statistics (ABS) data showed that household goods saw the highest growth rate of 7.1 per cent as sales totalled $6.14 billion. Other retailing, which includes recreational, sporting goods and cosmetics, went up 5.6 per cent to $5.76 billion, while clothing, footwear and accessories climbed 5 per cent to $3.01 billion.
Credit insurers Atradius and Coface have restored their cover for Asos’ clothes suppliers, indicating revived confidence in its financial stability. The insurance companies restored their cover in January, after withdrawing it in 2023 amid worries over the fashion giant’s falling profits, The Times reported. Additionally, credit insurer Cartan Trade has just opened up cover for the first time.
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Lush is a beauty company with campaigning at its heart and its latest initiative involves 900 bars of soap and a political message. The cosmetics business has come out in support of Mori leadership and others who oppose the Treaty Principles Bill, which aims to define the principles of the Treaty of Waitangi, also known as the Te Tiriti o Waitangi, and put them to a nationwide referendum for confirmation.
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