JBH and NIC, both the highest quality of retailers on he ASX, have forecast slowing demand at their recent HY announcements. It has been disucssed before that not all retail is equal when it comes to the impact of rate rises, largely due to the demographic the respective business targets.
From the AFR today;
Macquarie analysts used Google mobility data and other high-frequency consumer data to track foot traffic and activity at retail locations and found strong year-on-year improvement in January compared with a year ago at youth apparel retailers.
In January 2022, the relatively new omicron variant of COVID-19 kept many people at home, but factoring that in, the sizeable jump in foot traffic in 2023 at locations with a heavier skew to youth apparel led the analysts to conclude the younger demographic was still spending.
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