Bell Potter names the best ASX retail shares to buy

Looking for retail exposure? Then look no further!

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With interest rates tipped to start falling next year, this could bode well for consumer spending.

So, if you think now is the time to add some ASX retail shares to your portfolio, then Bell Potter has got your back.

Its analysts have just picked out three of its top picks in the sector. They are as follows:

Accent Group Ltd (ASX: AX1)

Bell Potter is a big fan of Accent Group, which it highlights "commands a dominant ~30% market share in the $3 billion Australian footwear retailing market, in addition to a broader opportunity given the expansion of its entry into the athleisure market."

Given this strength and its positive growth outlook, the broker believes its shares are good value at the current level.

Bell Potter has a buy rating and a $2.35 price target on its shares.

Cettire Ltd (ASX: CTT)

Another ASX retail share that Bell Potter is bullish on is Cettire.

It notes that Cettire "is a fast growing global online luxury personal goods retailing platform in a large market with a structural shift to online well underway."

The broker thinks that "CTT will continue to outperform its peer group given the ~0.5% market share in a large personal luxury goods market, despite the overall industry softness with the growth in both established (mainly US) and emerging/new markets."

It also appears to see the company as an attractive takeover target given how some leading online players are "seeking strategic responses" to the current backdrop in the global luxury industry.

Bell Potter has a buy rating and a $4 price target on its shares.

Propel Funeral Partners Ltd (ASX: PFP)

A final ASX retail share that Bell Potter believes is a buy is funerals company Propel Funeral Partners.

It notes that the company is "among the defensive names in the Consumer Services sub-sector as the second largest funeral home operator in ANZ with a BPe market share of ~11%."

Looking ahead, its analysts "view PFP's growth as well supported by a healthy underlying business with good pricing power and acquisitive strategy given the early stages of chasing a large and fragmented market, well supported by management track record."

Bell Potter has a buy rating and a $5.70 price target on its shares.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Accent Group, Cettire, and Propel Funeral Partners. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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