OUTLOOK

In most key markets Q1 retail spending has held up better than expected due to a slowing of inflation.  However by mid March, not only was inflation inching up again, but several high profile bank failures will likely weigh on consumer sentiment heading into Q2. 

For brands and retailers, inventories are back to more realistic levels, freight rates are also near ‘normal’ and materials prices have retreated.  However higher interest rates and unpredictable consumer demand is creating some anxiety.