Opinion
Triple whammy set to take wind out of retailers’ sales
The pandemic was tough but the next year or two could be even tougher for retailers as soaring rent and wage costs coincide with a slump in spending.
Sue MitchellColumnistThe pandemic was no walk in the park for retailers – many seasoned retailers have described the years since the COVID-19 outbreak as the most challenging in their careers.
While we are finally learning to live with the virus, and some COVID-related costs are abating, the next two years threaten to be equally testing as rents and wages rise at the fastest rate in a decade and consumers finally succumb to the pressures of soaring living expenses and higher mortgage costs.
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