During this Coronavirus period, there have been many winners and losers from the epidemic and this comes down to which industries they are in and if they were shut down by the government.
The Australian Bureau of Statistics have released the latest figures regarding retail sales and there was expected to be a modest rise of 0.4% in February. Actual figures reveal that retail rose a better than expected 0.5% in February seasonally adjusted. The areas that rose were food retailing, department stores and household goods.
Although Coronavirus has put many retail sectors up against the wall and others out of business, there has been massive increases in other areas of retail. What affect this has had on the economy won’t be realised yet as the February figures were just at the point before Coronavirus effects kicked in.
It is expected that the March and April figures will show the full effect that the epidemic has had on the economy. It is expected that supermarkets will have the biggest gains with many shoppers stock piling groceries.
Many retail outlets have closed there doors including Myer, Country Road, Peter Alexander and Cotton On. Stores such as Cotton On have been able to continue trading through their Online Store. A Cotton On promo code can be used to save on your purchase online.
The tourism industry is expected to be hit extremely hard as expected with Qantas and Virgin the biggest losers with travel agencies such as Flight Centre completely shut down.