Retailing generally is continuing to struggle. The Commonwealth bank reports that consumer spending in September was down for the first time in 13 months. The Port of Melbourne Authority says that imports by retailers are down 1% over last year and last year was a poor result. Online accommodation giant, Wotif, have reported that holiday bookings are unusually soft and the toy industry is reporting that sales are down 2% for the year so far. At a recent AGM Pac Brands (Bonds clothing) CEO John Pollaers said preliminary indications showed that earnings and net profit in the first half of full year 2013/14 “may be materially down” compared to the previous corresponding period.
Australian Retail Association executive director Russell Zimmerman was reluctant to ‘‘put it down as a disastrous Christmas just yet’’, because consumer confidence appeared to have increased as a result of the change of federal government. But this would not be the first time that retailers have been puzzled by consumer responses.
Australian Retail Association executive director Russell Zimmerman was reluctant to ‘‘put it down as a disastrous Christmas just yet’’, because consumer confidence appeared to have increased as a result of the change of federal government. But this would not be the first time that retailers have been puzzled by consumer responses.
We are definitely breaking new ground with consumer attitudes and many retailers will be looking nervously at October sales results. If trade at QVM is any guide, we shouldn't be expecting a great result and the retail dilemma continues.
