The output of the retail sector (excluding motor vehicles and motorcycles) in Australia has shown consistent year-on-year increases. The average annual growth over the past five years (CAGR) has been 6.89%. The output increased from AUD 154.92 billion in 2020 to AUD 187.54 billion in 2023. The projected output for 2028 is AUD 242.51 billion, representing a forecasted CAGR of 4.06% over the next five years.
- 2020-2021: 6.36%
- 2021-2022: 6.94%
- 2022-2023: 6.43%
- CAGR (last 5 years): 6.89%
- Forecasted CAGR (next 5 years): 4.06%
Future Trends to Watch
Going forward, the retail sector is expected to continue its upward trend, driven by technological advancements, increased e-commerce penetration, and evolving consumer behaviors. Factors like economic stability, consumer confidence, and regulatory changes will also play pivotal roles in shaping future growth trajectories.
