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Understanding the consumer of 2021

Inside Retail

Lockdowns with little advance notice, panic buying, supply chain disruptions, hastily made changes to health and safety regulations, and extreme swings in consumer needs and expectations. How did they fare and how have consumers changed due to their pandemic experience? Consumers unevenly impacted. Adaptability tested.

Consumer 242
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Reinvest and innovate: Key takeaways following Fenton & Fenton collapse

Inside Retail

This collapse follows the demise of Australian furniture brand Brosa late last year – which cited declining sales and cash flow pressures – as well as heightened challenges faced by small-to-medium sized retailers that are struggling to cope with rising costs, and a slowdown in foot traffic and consumer activity.

Flow 243
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Retail spending strong in late 2022, but signs of slowing emerge

Inside Retail

For retailers closely watching consumer confidence levels and spending trends, getting an accurate reading about what lies ahead can be challenging. Still, many consumers are undoubtedly feeling the impact of interest rates and the rising cost of living. This has become more crucial as the economic cycle continues to shift.

Pattern 130
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March spending intentions surge amid Australia’s economic rebound

Inside Retail

The HSI covers around 55 per cent of Australia’s total consumer spend across seven categories: home buying, retail, travel, education, entertainment, motor vehicles, and health and fitness. Retail sector snapshot: The year to March 2021 saw a wide range of spending patterns across different sectors of the market.

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2023 economy: growth rate slows as regulators battle inflation

Inside Retail

And while other sectors in the economy, such as construction, have continued to battle with supply-chain disruptions and adverse weather, activity has been buoyant across the board in general; we estimate that GDP expanded by around 3.8 For consumers, there is a very strong desire to get out and enjoy life. per cent in 2022.

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Imagine being able to see into the future

Inside Retail

And gaining unique insights into consumers’ likely purchasing behaviour is now possible through the CommBank Household Spending Intentions (HSI) Index. The CommBank HSI Index uses advanced analytics to help retailers better understand consumer or household spending intentions. Covers the vast majority of household spending.

Consumer 130
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How Covid-19 changed the way we shop – and what to expect in 2022 and beyond

Inside Retail

Covid has dramatically changed how businesses and consumers behave. As we emerge from the worst of the pandemic, it seems the right time to reflect on the most important changes in consumer behaviour we’ve seen, and to make some predictions about COVID-19’s lasting and pervasive effects on how we shop. Spending less, spending more.

Shopping 130