Today, Australia’s food and agribusiness sector produces enough food to feed four-five times our population. The sector plays a crucial role in turning our comparative advantage of growing agricultural produce into competitive Australian-made food and beverages to feed the projected 10 billion people by 2050. With FIAL’s help, the sector grew almost 80% between 2015 and 2023, contributing 4.2% to Australia’s gross domestic product. Food and beverage manufacturing continues to remain our largest manufacturing sector at 52.5% of total manufacturing Gross Value Added, accounting for 65.4% of all ..read more

The monthly CommBank Household Spending Insights (HSI) Index increased 0.2% in March to 141.8. This, says the bank, was led by shoppers stocking up the fridge ahead of the earlier-than-usual Easter break. The spending uplift was led by food and beverage (up 4%) and transport (up 4.2%). Supermarkets, liquor stores, convenience stores, butchers and bakers were the major recipients. While on the roads, higher fuel prices and the Easter long weekend saw increased spending at petrol stations (up 7.4%), ride sharing services (up 14.5%) and public transport (up 6.7%). NSW saw a significant ..read more

New research from software recommendation site Software Advice unveils what consumers are looking for in an in-store experience. According to the Australian study, 62% of respondents want their in-person shopping experience improved by finding what they need faster. Also, 59% would prefer a faster checkout experience, and 57% want more information about whether the products they want are in stock. Consumers accept that companies use automation technology in areas that make the experience more streamlined: checkout (74%) and finding items in store (57%). 75% of those surveyed cited convenience ..read more

Global financial technology platform for leading businesses Adyen has published its Adyen Index Australia: Retail 2024, exposing the impact of fraud on the Australian retail sector. Working with the Centre for Economic Business and Research (Cebr), Adyen found that Australian retail businesses lost an average of $2.2 million to fraud in 2023. In total, nearly half of Australian retailers (43%) fell victim to cyber attacks or data leaks over the last 12 months, an increase of 10% when compared to 2023’s numbers. As digital transformation among businesses accelerates, so does the prevalence of ..read more

Research by La Trobe University shows a preference for the term plant based over vegetarian and vegan on food labels. Conducted among US and German consumers, the research examined the impact of plant-based, vegan, and vegetarian labels on participant appraisals of how healthy, tasty, environmentally friendly, ethical, and pure a range of foods were perceived. The study included foods that are traditionally fully animal-derived, such as cheese or sausages, and foods that may contain small amounts or no animal-sourced ingredients, such as pasta, chocolate, and cookies. Lead researcher Dr Matth ..read more

Australia Post released its 2024 Inside Australian Online Shopping Report, providing exclusive insight into which Aussies spent the most online in the past year.[1] According to the data, 9.5 million Australian households[2] shopped online in 2023, spending $63.6 billion on online goods[3], down 1.2% from the year prior. Online shopping has remained largely flat with less spent online compared to last year, but the number of online purchases increased as Aussies turned to smaller, more frequent buys. Cost-of-living pressures driving more cautious spending in 2023 has also highlighted a clear ..read more

Australians are gearing up for a big Easter spending spree, according to new research by Finder. A Finder survey of 1061 respondents revealed almost two in three (61%) Australians – equivalent to 12.7 million people – plan to celebrate Easter. The average person plans to spend $1185 on chocolate, food, eating out, and travel, totalling $4.4 billion over the festivities. The research found one in six (16%) respondents plan on travelling over the long weekend, forking out $660 on average for flights and accommodation. This is up 40% from last year. A quarter (25%) of those surveyed plan to ente ..read more

The latest KPMG Australia Retail Health Index (RHI) indicates that a slower than expected Christmas trading period will see a sluggish return to positive health for the retail sector no earlier than mid-2025. Between the September and December quarters of 2023 the KPMG RHI rose by 0.17 index points, moving from -1.65 to -1.48. While an improvement over the previous quarter, the results still suggest the general health of the retail sector is frail. KPMG Retail Health Index, Actual & Forecast Some retailers better off as consumers choose needs over wants The big winners over Q2 FY24 were ..read more

As Australians gear up for the Easter break, a spending spree across DIY projects, holiday travel, and festive treats is set to bolster the economy. Across the three categories, Aussies are tipped to spend around $18 billion, with the total spend bolstered by Australia’s population growth of 2.4% across the past year. The Australian Retailers Association (ARA), in collaboration with Roy Morgan, has unveiled comprehensive insights into the nation’s spending behaviour for Easter 2024. DIY enthusiasm Over a third of Australians are embracing the DIY spirit, with a projected spend of $6.3 billion ..read more

Holidaymakers are set to splash out more than $9.6 billion on Easter travel this year, however local retailers in popular holiday destinations, for the most part, won’t be the beneficiaries. According to research by the Australian Retailers Association (ARA), in collaboration with Roy Morgan, approximately 4.45 million Australians (20% of the population aged 18+) plan on taking a holiday over the Easter period – 200,000 fewer than a year ago. Of the Australians going away this Easter, 53% will travel within their own state, 34% will go interstate, and 13% overseas. Those who have the cash to ..read more