It’s the busiest time of the year for retailers, with Black Friday, Cyber Monday sales already here, and Christmas just a few weeks away. Whilst the retail and macro-economic effects are considerable this year, with weaker consumer sentiment, increasing costs for businesses, and interest rate and inflation rises, there is still some optimism in the industry.
Over the next week, the retail sector will experience the biggest sales weekend in 2023, with over $6 billion estimated to be spent in retail. Whilst the National Retail Association is forecasting a flat, year-on-year performance nationwide, we are reaching out to the media, to encourage consumers to invest in local businesses, and return to shopping centres and online retailers. With the expectation of interest rates remaining on hold for December, there is hope we will see retail spending continuing beyond Black Friday and Cyber Monday and continue through the Christmas period. You can read the National Retail Association predictions here.
It is great to see the National Retail Association working with the Police, State Governments, industry members, and the Shopping Centre Council of Australia in developing and establishing a nationwide plan for tackling retail crime and individual aggression, and in addition, establishing the “no one deserves a serve” campaign to protect our staff in all areas of retail, across Australia.
Monday morning, the National Retail Association were pleased to present to the Federal Standing Committee on Health, Aged Care and Sport’s Inquiry into Diabetes in Australia. Dr Alan Barclay and David Stout presented on behalf of the National Retail Association’s Health and Nutrition Committee, to provide insights on preventative measures, and how the retail and Quick Service Restaurant sectors can work with government, industry, and consumers to drive proactive health policies and positive health outcomes for Australians. You can listen to our submission here.
Whilst this is a busy time for retailers, we encourage businesses to empower their retail teams with the skills and mindset needed to provide extraordinary service that sets their business apart, drives customer loyalty, and ultimately leads to increased sales and success. Our three-hour customer-centric service workshop will be held on Thursday, 14 December and you can register here.
Have a great week ahead.