CEO News, May 2023

completed its tightening cycle and that no further hikes will be delivered. If this is the case, consumer sentiment may have some support in the short term. However, the fixed rate roll-off and anticipated material-slowing in the economy is likely to keep consumer sentiment depressed for some time to come.

Results To Date

April saw a modest 2.5% increase in like-for-like sales, as we no longer reference this year’s results against last year’s lockdown months. We continue to track at 9.8% growth for the financial year to date, however, we have received feedback from members about a slowdown in sales and appointments for the start of May It's important to note that sales typically decelerate during this period, so it's advisable to compare with similar periods in previous years. We recommend that you maximize use of the current campaigns, have a strong recall system, maintain a robust marketing calendar, and seek guidance from your business coach to keep your appointment books full.

Different regions across the country are experiencing varying outcomes, predominantly influenced by the lingering effects of last year's floods. As a result, both NSW and QLD are showing robust sales figures. However, Victoria, WA, and SA are witnessing a gradual decline in retail sales.