Reduced consumer spending putting pressure on retailers

Shopify Managing Director for APAC and Japan Shaun Broughton says consumers are being more “considerate” about where they spend their money. Consumer spending has lowered amid Australia’s cost-of-living crisis. The Shopify Australian Retail Report shows 79 per cent of Australian shoppers are cutting back and 54 per cent are seeking value. Soaring labour costs, electricity prices, shipping costs and rents are putting massive pressure on retailer margins. In partnership with Shopify.