Why Australia’s luxury retail sector is thriving

Australia’s luxury retail sector is thriving, even as mainstream retail brands struggle to maintain growth.

While the broader Australian retail sector is facing tough times, the local luxury market has experienced impressive growth in the past year.

Research from market research firm IBISWorld, based on public and private data sourced from the Australian Bureau of Statistics and tourism research, among others, indicates retail in Australia has only grown by an annualized 0.5% in the past five ye

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