On a sunny Melbourne day, we were joined by Adelaide, along with our friends from The ToolsGroup and an illustrious group of execs from across the country. We discussed market conditions and spending predictions for the year ahead. If you couldn\u2019t be there, take a look at the key takeaways from the day.<\/p>\n\n\n\n
According to Adelaide, spending per person will decline in the second half of 2023. Retail sales growth will slow as household discretionary incomes are redirected by interest payments and inflation. Adelaide said, \u201cIt\u2019s going to take us a few years to get back to the level of buying power we had in 2021.\u201d However due to the labor shortage, unemployment will remain low and wages will continue to increase, albeit not in line with this year’s inflation.<\/p>\n\n\n\n
Services spending, including dining, is expected to remain stable in 2023, with increased spending on travel. This accounts for some of the anticipated negative impact on the retail sector as consumers prioritize spending on experiences rather than expensive goods. However, there\u2019s hope for certain CG sectors. They are predicted to perform well in line with the \u201clipstick effect\u201d, where consumers choose to spend on more affordable luxuries in difficult financial times.<\/p>\n\n\n\n
We can\u2019t control the economy but we can control how we respond to it. Rrading conditions are looking tougher than they have been for several years. Therefore, it\u2019s important that businesses tackle the challenge head on with technology that will help make them more resilient. Pricing can be make-or-break for businesses during tough economic times. Especially during periods of high inflation and volatile overheads. But with the ability to see up-to-date margins across every product and make instant changes, businesses have the power to protect profitability. Whatever is happening around them.<\/p>\n\n\n\n
For more insight into what\u2019s happening across business in Australia and how to harness enterprise pricing powers through Flintfox, get in touch.<\/p>\n","protected":false},"excerpt":{"rendered":"
On a sunny Melbourne day, we were joined by Adelaide, along with our friends from The ToolsGroup and an illustrious group of execs from across the country. We discussed market conditions and spending predictions for the year ahead. If you couldn\u2019t be there, take a look at the key takeaways from the day. 1. Businesses […]<\/p>\n","protected":false},"author":39,"featured_media":5058,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"tags":[15],"class_list":["post-5057","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","tag-pricing"],"acf":[],"yoast_head":"\n