Two reports reveal ways to drive discretionary spend in a cost-of-living crisis

Consumers are cutting discretionary spending but there’s still hope for impulse purchases. Supplied.
Cost-of-living has gone from crunch to crisis and with this new economic reality has come new consumer behaviors. Industry analysts have identified purchase trends that will have short-term and long-term consequences for manufacturers, brands and retailers alike. New data reveals that 53 per cent of Australians do not expect their purchasing power to improve in 2024 – and many expect to reduce their discretionary purchases of beauty products by 46 per cent, clothing by 50 per cent, electronics

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