Australian retail sales volumes have fallen for a third consecutive quarter for the first time since 2008, putting the industry under intense pressure. The Australian Bureau of Statistics revealed a 0.5% drop in retail sales volumes for the June quarter, following a 0.8% drop in the March quarter and 0.4% in December 2022. June 2023's retail sales volumes were also down year-on-year compared to June 2022, which saw an increase of 1.2%. ARA CEO Paul Zahra said the decline demonstrates a continued slowdown in consumer spending - piling further pain on retailers amid a cost-of-doing-business crisis.

https://www.miragenews.com/australian-retail-sales-plunge-for-third-1059972/

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