Retailers hope for clearer skies after ‘perfect storm’ in 2023
The economy managed to avoid a recession this year, but the retail sector was not as fortunate, with real retail spending declining for three consecutive quarters.
The end of 2023 can’t come soon enough for many retailers, despite the festive season adrenalin rush.
The Australian economy managed to avoid a recession this year, but the retail sector was not as fortunate, with real retail spending declining for three consecutive quarters as consumers squeezed by soaring living costs reined in discretionary purchasing.
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Sue Mitchell writes the fortnightly Window Shopping column for the Financial Review and has covered retailing for over 30 years. Connect with Sue on Twitter. Email Sue at smitchell2045@gmail.com
