Retailers set for cautious consumer spending

Retailers will need to continue discounting in the lead-up to Christmas as consumers remain cautious about their spending, according to the latest CommSec research. The research reveals retail spending grew by just 0.3% in the September quarter, falling below economists’ expectations of 0.5%. Non-food retailing experienced its slowest growth in four months. […]

StartupSmart 05 November, 2010

Retailers will need to continue discounting in the lead-up to Christmas as consumers remain cautious about their spending, according to the latest CommSec research.

The research reveals retail spending grew by just 0.3% in the September quarter, falling below economists’ expectations of 0.5%. Non-food retailing experienced its slowest growth in four months.

CommSec economist Savanth Sebastian says smaller retailers fared better than their larger competitors, experiencing a 0.4% rise compared to 0.2%.

“The data for the September quarter shows that Aussies splashed out on toys, sporting goods and video games, and went out to restaurants in droves,” he says.