This is a much larger theme than just concluding that company xyz may struggle next year but we believe its going to be a very real trend – excess cash that many Australians haven’t been able to spend in their usual manner due to lockdowns has been directed towards buying stuff through classic “retail therapy” albeit now on-line. If our household is anything to go by this spending is going to be re-directed towards travel & recreation asap.
MM believes Travel & tourism will outperform retail over the next 6-12 months
