End of Financial Year (EOFY) sales are in full swing, with retailers showcasing their mid-year and tax time promotions to bargain hunting shoppers.
Our latest research by the ARA and Roy Morgan tips that Aussie shoppers will spend $10.1 billion in these sales, up $800 million from 2023.
While the increase is welcome, it’s important to note that this is predominantly driven by Australia’s rapidly growing population. More here.
This week, as part of the annual wage review, the Fair Work Commission increased modern award rates of pay by 3.75%, in addition to the scheduled 0.5% increase in Superannuation Guarantee Rate, which means the increase in wages for business will be 4.25% from 1 July 2024.
Whilst it is important that wages keep pace with inflation, we have sent a strong message to government that with discretionary spending slowing and operating costs rising, wage increases without productivity improvements place businesses under significant pressure and can ultimately lead to price increases. More here.
Retail Crime unfortunately remains a pressing concern for our community and we are pleased to host the annual Retail Crime Symposium in Melbourne next month in collaboration with the National Retail Association.
Amongst our powerful speaker line-up, we are thrilled to announce that Michael Schneider, Managing Director, Bunnings Group will join me in an exclusive fireside chat. Bunnings, alongside Coles and Woolworths have played a true industry leadership role in identifying retail crime challenges and solutions. We are pleased to be able to share some of Michael and Bunnings Group’s learnings with our community at the Symposium on 18 July.
To see the rest of our incredible line-up of experts and to book your ticket, follow this link. We have sold more than half the tickets to this event – so register today to avoid missing out.
