Post by Australian Retail Council (ARC)

End of Financial Year sales remain one of Australia’s most significant retail events, but new research suggests households remain cautious despite widespread discounting, with EOFY spending forecast to grow by just 1.9 per cent this year – well below inflation. Research from the Australian Retail Council (ARC) and Roy Morgan shows around 6.1 million Australians (26%) plan to shop during EOFY sales this year, with total spending expected to reach $10.7 billion. The most popular categories this year are clothing, footwear and accessories (34%), household appliances and white goods (15%), and electronics and technology products (12%). Online spending is expected to account for 44 per cent of EOFY expenditure, unchanged from last year. ARC Chief Industry Engagement Officer Fleur Brown said the findings highlight the growing pressure on households. View media release: https://lnkd.in/g5STDWzf #ARCMedia