Recent words from Anna McPhee, CEO of the Australian National Retailers’ Association (ANRA) suggested that, although consumer confidence is up, things could still be looking grim for retailers this holiday season.
Westpac Melbourne Institute’s Index of Consumer Sentiment for November shows Christmas retail might be a time of cautious spending by consumers, according to a press release from ANRA.
Fortunately, we can now report that things are looking promising in the lead up to Christmas.
Does this mean The Grinch is coming?
Pre-Christmas spending figures say, “Nope, it’s looking like jingle all the way,” as the graphic below shows.
A new infographic from ARNA shows that it’s beginning to look a lot like a lucrative Christmas, as consumer spending is ramping up as we approach the year’s biggest holiday.
Merry and bright?
The numbers support McPhee’s previously stated hopes that things may not be all that bad for Aussie retailers, this holiday season.
“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 McPhee.
Are you expecting Santa Clause, or The Grinch?