The latest retail spending figures reflect the rising cost-of-living pressures Australian households are experiencing.
Over the holiday period, which included Christmas and Boxing Day, Australian shoppers spent upwards of $34.47 billion.
Department stores and clothing, footwear and personal accessories saw the biggest falls, with 14.3 per cent and 13.1 per cent respectively.Meanwhile, food retailers saw a 0.3 per cent rise, barely changing from the month prior. The Australian Bureau of Statistics’ Ben Dorber noted the way shoppers' spending habits have changed.
“While there was a strong rise in original terms for December, as is expected in the lead-up to Christmas, this year’s rise in original terms was smaller than those typically seen in past December months,” he said.The ABS, however, revealed an increase of 7.5 per cent year-on-year, which was welcomed by the industry.
Chief Industry Affairs Officer at the Australian Retailers Association Fleur Brown said Tuesday’s figures were in line with expectations.
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