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The Retail Mosaic Issue 11

The labour productivity challenge

22 September 2026

Most retailers have had wage growth exceed sales growth over the past five years. The wage cost challenge will continue and retailers will need to explore labour productivity improvements. In Issue 11, of Retail Mosaic we analyse labour productivity and benchmark the ASX-listed retailers. JB Hi-Fi and Nick Scali are already world-class. Bunnings, Dusk, Nick Scali UK and Woolworths are all retailers we have identified where labour productivity upside should support profit margins. Retailers will install more self-checkouts, electronic shelf labels and supply chain automation to help lower wage costs over the next five years.

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