The third-annual retail holiday season trend report from UKG analyses survey responses from US retail leaders to understand how stores are preparing for the 2022 holiday season while navigating high inflation, sustained understaffing, and ongoing supply chain challenges. Findings from the Australian Retailers Association suggest that Australians will spend $63.9 billion over the festive season, with retail and hospitality businesses experiencing increased demand from last year, similar to the US. With the ongoing labour shortages and the anticipated high demand over the festive season, this year Australian employers started advertising earlier than normal with 2.3% of job posts included Christmas keywords, compared to 1.8% last year. Therefore, the key findings outlined in this report are applicable to the current market trends in the ANZ region and will help to identify the most crucial priorities for retailers in 2023.
