Lessons from Brands on the Rise

Date: 23 May 2024

Australians are grappling with the epicentre of financial strain as the Reserve Bank implements its 13th consecutive rate rise. Soaring living costs, inflation, and escalating mortgages have sent ripples through various market sectors, contributing to a 0.9% decline in retail spending during the calendar year 2023. Alarming data from the Australian Bureau of Statistics reveals that, on average, 1000 businesses are shutting down each day across the country.