Businesses stocking shelves ahead of busy holiday trade – NAB News

Australian businesses are continuing to invest and grow, with NAB’s trade and working capital lending up 51% on the past year. The data also shows a 58% spike in use of the funds ahead of the busy holiday shopping period, with many businesses using working capital to stock up on products to ensure favourite Christmas gifts stay on shelves. NAB Executive for Business Metro, Michael Saadie, said many business owners are turning to the finance option to combat ongoing supply chain issues, with many businesses moving from a ‘just in time’ to a ‘just in case’ mentality. “We’re seeing businesses change the way they hold stock, with many choosing to hold more product to reduce shortages – if you can’t service customers immediately, you risk losing them to competitors,” Mr Saadie said. “Last year, Australians spent more than an estimated $8 billion across the four days from Black Friday to Cyber Monday, this shows Aussies have really embraced the trend adopted from our American friends and is now a permanent fixture in the sales calendar. “This year, we’re navigating through a different economic environment, but the trend highlights the importance of having product available when and where customers want it.”
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