Inside Small Business; September 12, 2023
Good360 Australia says the volume of unsold products received from retailers has increased by 20 per cent over the past year as companies do more to ease consumers suffering from the cost-of-living crisis.
These items, including clothing, homewares, appliances, toiletries, and toys, would have been discarded if Good360 had not been able to redistribute them.
Good360 has also disclosed that as the cost-of-living problem intensified, demand for its services has skyrocketed, with the charity now distributing fresh unsold products to 3000 Australians in financial trouble every day.
The growing demand for assistance and donated unsold items has corresponded with 12 interest rate increases by the Reserve Bank and a sharp fall in retail expenditure, and businesses are wasting and sending $2.5 billion of unsold household goods to landfill every year. According to the ABS’s retail data for July, discretionary spending on products such as clothing (down 7.2 per cent) and household goods (down 8.0 per cent) has declined dramatically since November.
Check out the full article over at Inside Small Business.
Read more about Good360’s efforts during the cost-of-living crisis here.