November saw a noticeable surge in retail sales during the Black Friday sales as many Aussies were on a shopping spree.
It is believed that shoppers seek discounts while shopping in response to the higher cost of living.
Judo Bank Economic Advisor Warren Hogan stated that the Black Friday sales are a “relatively new phenomenon.”
Mr. Hogan stated in an interview that, in an attempt to understand spending trends, most analysts wish to get a good look at December’s retail sales.
“As we’ve seen in recent years, a strong November is often followed by a very weak December.”
- Published By Team Australia News
