Fuel Crisis, Rate Rises & Agentic Commerce

Mal is live from Singapore this week, joining Alex from the eTail Asia conference where AI dominated every session and the conversation is shifting — Asia's big marketplace-first model is starting to make room for DTC. Back home, Australians are dealing with a second consecutive RBA rate rise, a fuel crisis driven by the Strait of Hormuz shutdown, and the kind of cost-of-living pressure that changes how consumers spend and what operators need to do about it.

This episode covers the macro squeeze in full — what rising rates, oil prices and shipping costs actually mean for your business — alongside the latest in agentic commerce (Shopify's big move and Walmart's quiet reality check), Myer's luxury beauty pivot, and the usual retail openings, closings and M&A news from around the country.

H&M exits Tasmania / By Charlotte opens in WA: Global fast fashion retreats from low-density markets while a homegrown premium DTC brand goes big in Western Australia with three stores at launch.

KMD rejects Stokehouse's Rip Curl demerger bid: The surf and outdoor giant turned down a proposal to spin off Rip Curl and merge it with US label Stokehouse, citing no new capital, shareholder dilution and a deal structure that created no value.

Priceline franchise sale narrows to final four: The sale of Priceline Pharmacy's franchisee operations has reached its final stage with four undisclosed bidders, signalling further consolidation in Australian pharmacy retail.

Rates, oil and the operator squeeze: The RBA's second consecutive rate rise to 4.10% — driven by a global energy crisis after Iran closed the Strait of Hormuz — is pushing fuel prices, freight costs and mortgage stress higher, with a third rise tipped for May.

Agentic commerce arrives — but is anyone buying: Shopify has opened its infrastructure so millions of merchants can sell inside ChatGPT, but Walmart's months-long trial of in-chat checkout has produced disappointing sales results.

Myer bets big on luxury skincare: After ending its 17-year Mecca partnership, Myer is repositioning beauty as its greatest growth opportunity with La Mer, Guerlain, Swiss Perfection and Helena Rubinstein landing in bespoke shop-in-shop formats.