Father’s Day is less than three weeks away – the last gift-giving event before Christmas – and our forecasts with Roy Morgan show Australians will spend $735 million on presents this year. The projections are down 7.7% on last year, which is understandable given the current economic environment. 42% of those surveyed said the current cost of living challenges will impact how much they’ll spend.
While retail sales remain strong, the concern is that with inflation yet to peak and more interest rate rises on the way, consumers will be squeezed when it comes to their discretionary purchases.
The ARA has taken an important step on its reconciliation journey, launching our first Reconciliation Action Plan (RAP), which outlines the initiatives we’ll deliver to increase opportunities for First Nations businesses, entrepreneurs and job seekers. The launch of the RAP also coincides with our support for the Uluru Statement from the Heart and for the Prime Minister’s planned referendum to establish a First Nations’ Voice to Parliament enshrined in the Constitution.