Retailers sitting on a ‘lot of stock’ due to ‘softening of consumer confidence’

National Retail Association Director Rob Godwin says retailers are sitting on a “lot of stock” due to the “softening of consumers’ confidence”. Mr Godwin says there are “huge discounts” and “promotions” available during the Boxing Day period. “When they bought stock for the Christmas and Boxing Day sales period – they’re sitting on excess stocks. “The retailers are looking to cash in on that stock and generate revenue and profit for the start of 2024.” The National Retail Association expects shoppers to spend $23.9 billion over the course of the sales.