Retail industry needs a rescue package
Michael is joined by Russell Zimmerman, Executive Director of the Australian Retailers Association, who says the COVID-19 outbreak has fast become “catastrophic” for retailers, and that it is imperative the government helps save thousands of retail enterprises and hundreds of thousands of jobs.
The turnover of the retail industry in Australia is over $325 billion annually, representing 65% of overall consumer spending, and is responsible for 4.1% of gross domestic product.
The COVID-19 crisis currently gripping Australia has created the most challenging trading conditions ever faced by retailers in our country’s history.
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