How retailers are being impacted by rising interest rates. Source: Bigstock
Following nine consecutive interest rate increases in Australia – with more likely to come – retailers are having to navigate a challenging economic environment, as consumers are looking to cut back their spending across a range of categories. This was arguably felt in December 2022, which saw a 3.9 per cent drop in consumer spending. Industry experts are also predicting challenging months ahead, with weaker-than-usual results expected ahead of key calendar events. Beyond a drop
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