Australian retailers are warned there will be “discretionary spending” among shoppers in 2023 amid high interest rates according to National Retailers Association Interim CEO Lindsay Carroll.
Ms Carroll said the recent Black Friday sales event was the “biggest” Australia has seen to date for Black Friday as November’s retail trade surged 1.4 per cent.
“The first half of this year will be very difficult for Australian retailers as belt buckles are tightened in household budgets,” she told Sky News Australia. “So the second half of the year we’ll see retail sales events grow in popularity and that’s really important for Australian retailers because they need those sales to get them through the slower times in the year.”
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