Coles chief executive Leah Weckert expects shoppers to celebrate Christmas on a budget, making every dollar count as soaring interest rates and fuel prices drive consumer confidence to record lows.
The outlook suggests households will remain focused on managing spending during the festive period, with the cost pressures shaping how they approach Christmas shopping.
Weckert’s comments come as consumer confidence reaches record-low levels amid the wider squeeze from higher borrowing costs and fuel prices.
