Australia recovered well from COVID this year. Despite facing inflation and a high cost of living in the early months of 2023, life is normalizing as inflation eased in October.
The Black Friday sale and the Cyber Monday sale experienced a 3% increase in consumer spending compared to the previous year. Christmas, eagerly awaited, is celebrated nationwide, and analysts anticipate a similar spending trend for Christmas.
While there is an expectation of reduced spending by low-income households this festive season, middle-income households and above are predicted to maintain their usual spending levels.
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