Market Trends and What Businesses Need to Know Right Now

Canberra Business Chamber members received fresh data on consumer spending at a sold-out briefing held July 11 at the National Convention Centre on Constitution Avenue.

Falling home prices across the ACT have reduced discretionary spending in key categories such as homewares and dining out, prompting businesses to review stock levels ahead of the July-August period.

Local impacts on Braddon and Kingston

Retailers along Lonsdale Street in Braddon reported a 9 per cent drop in foot traffic during June compared with the same month last year, while cafes in the Kingston Foreshore precinct noted fewer weekday lunch bookings. The Canberra Business Chamber used the briefing to highlight two programs that directly address these trends: its Retail Resilience workshops at the Braddon Community Centre and a supply-chain matching service run through the Kingston Business Network.

Both programs run through the end of August and focus on short-term tactics such as smaller order quantities and targeted promotions rather than broad discounting.

Key figures and immediate steps

Australian Bureau of Statistics figures released July 10 showed ACT retail turnover fell 3.8 per cent in the June quarter, the steepest decline since March 2023. Average transaction values at independent stores dropped from $47 to $41 over the same period. Businesses that attended the July 11 briefing were advised to review supplier contracts by July 18 and to register for the next chamber event scheduled for July 22 at the Manuka Oval function rooms, where updated wage and energy cost projections will be presented.

Firms that act on the inventory and pricing guidance before the end of the month can limit exposure to further slowdowns expected through September.