Australian spending during Easter grew 4.5% to more than $8.1 billion this year, according to new Westpac DataX research in conjunction with the Australian Retailers Association (ARA).
Department stores saw the second-highest rise of 7.4% on Easter 2022, behind food retailing (8.6%) which saw the highest contribution of $3.6 billion.
Clothes, footwear and accessories grew by 2.8%, the lowest rise, with household goods decreasing in sales by 2.5%.
“An Easter spend of $8.1 billion across the country is a positive result amid rising interest rates and cost-of-living pinch being felt by Aussies,” ARA CEO Paul Zahra said.
“While we’re still seeing strong spending growth in food, this category is trending positively in part due to inflationary price increases.
“It’s evident that we’re in a discretionary spending slowdown, with homewares and household goods in decline. Shoppers are increasingly conscious of spending less, and shopping strategically to find the best deal and save.”
Head of Westpac DataX Jade Clarke said many Australians are under cost-of-living constraints.
“Westpac DataX’s post-Easter analysis shows Australians felt cost-of-living pressures this year, with retail spending up just 4.5 per cent on last year – less than inflation,” Clarke said.
“We saw smaller annual growth compared to the corresponding Easter period last year across the board, other than in Food Retailing (grocery) which was up 8.6 per cent, partly due to inflation.”