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Australian Apparel Market Primer

Australian retailers are relatively positive about their prospects for 2017. In Deloitte’s most recent Retailers’ Christmas Survey,
64% of respondents are expecting their earnings to increase by 5% or more in 2017, with such levels of optimism at their
highest since we started this survey five years ago. However, this optimism needs to be tempered somewhat with realities of the
macro-economic outlook. The ‘wealth-factor’ arising from appreciating house prices that has buoyed parts of the market is
starting to slow down, whilst we continue to see low wage growth. Against this background, the retail environment in Australia
is likely to remain challenging, particularly with the continued influx and expansion of global retailers in Australia.