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Uptick in confidence fails to spark Christmas spirit

These comments on the Westpac Melbourne Institute Index of Consumer Sentiment can be attributed to Australian National Retailers’ Association (ANRA) CEO Anna McPhee. The index rose 1.9 per cent in November from 94.8 in October to 96.6 in November.

Uptick in confidence fails to spark Christmas spirit

 

Westpac Melbourne Institute’s Index of Consumer Sentiment for November out today showed Christmas retail might be a time of cautious spending by consumers, ANRA CEO Anna McPhee said.

 

“Today’s consumer sentiment figures and consumer Christmas spending expectations haven’t provided the spark to light up the Christmas shopping period retailers were hoping for.

 

“Whilst small, the ongoing improvement in sentiment is a hopeful sign consumers are starting to feel more confident again.

 

“Retailers continue to be optimistic about the way consumer confidence is tracking.

 

“Improvement in expectations for better economic conditions over the next 12 months, which increased 10.8 per cent in November and that expectations for family finances over the next 12 months also strengthened (up 3.1%), underpins retail optimism.

 

“The sector’s expectation to achieve six per cent year-on-year retail sales growth come December remains the target and retailers will be working hard in the weeks ahead. ABS retail sales numbers are continuing to point to positive and sustainable spending growth and retailers remain optimistic that the momentum will continue,” said Ms McPhee.

 

Media contact: Alicia Collins on 0409 437 433 or acollins@anra.com.au                    

 

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