Retailers count on tax-time splurge as spending flatlines

The retail lobby is predicting consumers will unfurl their stretched purse strings for EOFY this year. Photo: AAP

Retailers are hoping Australians navigating the cost-of-living crisis will have room in their budgets for an end of financial year (EOFY) splurge, with new data predicting fewer families are set to spend more this year.

Figures published by the Australian Retailers Association (ARA) on Tuesday forecast $9.3 billion in EOFY sales in 2023 – up $500 million on 2022 – amid aggressive discounting from retailers.