COST OF LIVING AND CONSUMER DEVIANCE SPOTLIGHT REPORT

The Australian Consumer and Retail Studies group at Monash Business School released its latest Cost of Living and Consumer Deviance Spotlight report, providing new insights on consumer behavior in response to the cost-of-living crisis, including changes in spending habits and the justification of deviant behaviors like retail theft.

The report found many Australians were offsetting increases to non-discretionary spending (e.g., housing, essential groceries, insurance) with decreases in discretionary spending (e.g., restaurant and takeaway meals, clothing, footwear and accessories) to meet the current costs of living. The findings also found consumers were pessimistic about their current and future personal finances, as well as expectations of future business conditions.

Aerial perspective of Australian cul-de-sac

Further Relevant SDGs:

SDG 8 Decent Work and Economic Growth SDG 10 Reduced Inequalities SDG 12 Responsible Consumption and Production