Everyone still wants a little luxury. But inflation is up, optimism is down, and even high-income earners are getting nervous about the outlook.
Sprungli Gold Bunny sells out at Easter, but what do chocolate hampers and advent calendars selling like hotcakes in the lead-up to Christmas tell us about the consumer?
During COVID-19 sales of Lindt blocks were growing at a double-digit clip in Australia, and this calendar year the local unit of the 177-year-old global company expects sales will keep growing, and profits will improve significantly.In the year to December 31, 2021 Lindt sales rose 3.9 per cent to more than $231 million, while profits climbed more than 10-fold to $14.4 million.for an eighth time in a row – and there are cracks starting to appear even among higher-income earners.
“This consumer is not thinking about, do I sell my home or not? It’s more about on my next holiday, am I going to go overseas or should I stay local?” Mr Levavi said. The national retail body the Australian Retailers Association this week bumped up its pre-Christmas spending forecasts by another $2 billion, to a record $66 billion spend, but Mr Levavi said Christmas might not be as strong as predictions.
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