Australian retailers look set to be battered by one of their worst Christmas seasons since the global financial crisis, as consumers shift away from traditional gifts to experiences and donations.
Pre-Christmas consumer confidence is now at its lowest since 2008, according to the latest ANZ-Roy Morgan Consumer Confidence survey. GST revenue is down by more than $550 million on what was expected in the federal budget.
We’ve heard from some people who are planning to put [a bushfire appeal donation] into a Christmas card and leave it under the tree.Reflecting the change in consumer preferences, the Australian Bureau of Statistics has updated its measure of inflation to give greater weighting to recreation and culture, while downgrading furnishings, clothing and footwear.
Similarly, international travel has appeared at the top of shoppers' Christmas lists, with group travel company Intrepid marking a 17 per cent increase in end-of-year bookings. Gold Coast marketing manager Larissa Tedesco believes it's selfish to be buying excessive gifts in the face of catastrophic bushfires.
That's the plan for Gold Coast marketing manager and sustainability blogger Larissa Tedesco. An advocate of sustainable gifting, she's suggested to her friends and family that they make bushfire donations this year as gifts.
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