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Can Aussie department stores pivot ahead of a spending decline?

After almost a year of consecutive increases, the retail industry saw a 3.9 per cent decline in month-to-month spending between November and December 2022. While food retailing saw a slight increase, most industries saw turnover fall between the two months. The biggest swing occurred in department store spending, which saw a 14.3 per cent drop over the two month period. While year on year spending rose by 7.5 per cent between December 2021 and 2022, annual spending appears to be falling from mid