Economy / 17 July 2024
Soothing ourselves with retail therapy
![woman legs out of a pile of clothes on the floor. shopping addiction concept Image source: iStock](https://www.thesquiz.com.au/wp-content/uploads/2022/07/iStock-1190179908-1-1024x683.jpg)
Just when we thought we were being sneaky by shopping the mid-year sales, it turns out Australia Post has been keeping track of all our parcels… The postal service’s latest quarterly report shows that – despite the rising cost of living – online shopping grew by 2% in the year to June. And the last quarter was up 4.4% on the same time last year, linked to a spike in end-of-financial-year retail spending. As for what we’re buying, fashion/apparel purchases have risen 19.1% in the past year, followed by health/beauty (6%). But it’s unfair to think it’s been one big spendathon – we’re buying less per order, and AusPost says we’re favouring less expensive items. What that means for the next interest rate decision, we’ll have to wait and see…
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