Consumer Durables / Retail Industry Trends 2023

Market Monitor

  • Australia,
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  • Consumer Durables

12th December 2023

High inflation and interest rates have knocked consumer confidence

Although inflationary pressures are decreasing, high interest rates are continuing to weigh on household real incomes and consumer confidence across most of the world.

These economic challenges are resulting in a reduction in demand for consumer durables, with goods bought using credit also decreasing due to higher interest rates. In Europe, sales of consumer durables are expected to contract in 2023, while other major regions are also seeing a slowdown of sales growth.

The credit risk of consumer retailers in advanced markets is deteriorating, with smaller players becoming especially vulnerable to defaults and insolvency. The sector operates in a fierce competitive environment with thin margins. These are being further squeezed by more frequent markdowns, as consumers seek discounts year-round.

Online retailers are increasing their market share, putting pressure on bricks and mortar operators. According to the International Trade Association, consumer goods sold online will account for about 22% of total global retail sales in 2024.

Please download the report below to read more about the sector´s outlook in the Americas, Asia-Pacific and Europe.


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