The boss of Australia’s largest independent retailer says that while easing inflation will allay rate hike fears, premium products still aren’t selling.
Champagne sales fizz as confidence returns
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A boom in high-end champagne sales in the past few weeks is another symbol of robust consumer confidence in Australia as people barred from travelling overseas splash out on a small luxury.
Even though there are anxious moments as NSW wrestles with the COVID-19 outbreak in Sydney s northern beaches, the contrast between Australia and many other countries is stark.
The boss of one of the world s large champagne houses, Piper-Heidsieck, is surprised at just how robust champagne sales are in Australia. They are down markedly in many European countries. It comes as some liquor retailers in Australia are scrambling to ensure they have enough stock on hand leading in to New Year s celebrations, as shipping delays from offshore disrupt logistics and cause a supply squeeze in some cases.