Christmas shopping will be supercharged this week where shoppers are expected to spend more than $8.7 billion in the next seven days as the countdown to Christmas begins.
The housing market has helped boost consumer confidence in November with the Westpac Melbourne Institute Index of Consumer Sentiment increasing by 1.9 per cent from 108.3 in October to 110.3.
The federal government has announced it aims to restore "integrity" into the Australian tax system by looking at the backlog of unresolved tax reforms, including the GST threshold.
Did retailers celebrate too earlier? Maybe. Or so that’s what many have said following the Reserve Bank's decision to leave the cash rate unchanged at 2.5 per cent.
Retailers have taken the September ABS Retail Trade figures as a possible hopeful indication of how tradiing will be during the all-important upcoming Christmas period.
Retailer associations and the federal government are working together to see enforcement action to be undertaken to address competition issues within the supermarket retail sector.
The Reserve Bank of Australia has decided to leave the cash rate unchanged at 2.5 per cent, following rumours that no one should bank on a rate change this month.
Two out of three women have credited the retail sector for providing a worthwhile career path, according to research released by the Australian National Retailers Association.
In the lead up to the federal election this Saturday, signs of nervousness are more obvious than ever as consumers continue to spend cautiously, which is reflective of the latest Australian Bureau of Statistics Retail Trade Figures.
Four retail groups, which represent two million business and five million employees, have joined forces calling an end to the anti-competitive behaviour of the supermarket giants.
Over 60 per cent of Australian consumers identify themselves as “apathetic” in their choice of primary retailer, according to the latest IBM study.
ANRA CEO Margy Osmond has commented that sentiment is important but it is sales that determine the retail success.
Despite the slight optimism from retailers prior to the Christmas sales, the results for December has unfortunately fallen short.
Retailers have mixed feelings about the Reserve Bank’s decision to leave the cash rate unchanged at 3 per cent.
Consumer sentiment in January has increased slightly, reflecting a possible positive outlook for the year.
Following Cole's decision to discount prices on more products, some retail body associations have shown their support for it while it's being dismissed by others.
Retailers are expected to cash in a total of $12 billion from Christmas shopping this week.
As Christmas fast approaches, Australians will lift their interest in shopping.
The latest ABS figures show Australia’s GDP grew by 0.5 per cent in the September quarter.
The 0.5 per cent retail turnover rise in September has been warmly welcomed by retailers.
Retailers welcome NSW Planning Minister Brad Hazzard’s plans to introduce 24 hour trading before Christmas.
Signs that consumers are spending is becoming more evident as retail turnover for August rises 0.2 per cent, according to the latest Australian Bureau Statistics (ABS) Retail Trade figures.
The Federal Government has publicly released the final report of the Low Value Parcel Processing Taskforce, which suggested any streamlining of the processes involved in the handling of low value imported parcels would require significant change.
The latest ABS retail trade figures show that retail turnover rose 1 per cent in June 2012, seasonally adjusted, following a rise of 0.8 per cent in May 2012.
The independent review of the Fair Work Australia Act has produced a mixed bag of feelings from retailers.
In the lead up to the first Retail Council of Australia meeting later this week, Assistant Treasurer David Bradbury has announced additional members.
They say women are better shoppers than men but according to the Australian National Retailers Association (ANRA) the winter sales are indicating otherwise.
The Fair Work Australia's decision to increase the minimum wage by 2.9 per cent has left many retailers heart broken as it ignores strong signals that the sector is struggling.
Trust was the key theme highlighted in IBM’s 2012 Smarter Consumer Study, which looks at the purchasing trends, habits and expectations of more than 28,000 consumers globally.
While the two interest rates cuts were welcomed with open arms by retailers at the end of last year it didn’t change the attitudes of consumers as the latest ABS retail trade figures show that retail turnover in November 2011 was flat.
For the first time in six years, Christmas Day will fall on a Sunday, which will give consumers a full week to do their shopping.
Spending levels are predicted to be up on 2010 as retailers enter into the peak Christmas shopping period this week, according to the ANRA.
The Productivity Commission has made it clear that the current level of the LVT only plays a minor in how retailers are competitively disadvantaged.
ANRA CEO Margy Osmond said if the government is serious about reform, lowering the threshold to $100 and enable retailers to compete on the global should be a key.
The draft report - Economic Structure and Performance of the Australian Retail Industry - examines the implications of globalisation for the retail industry and the appropriateness of current policy settings.
Some Australian retailers will be hard hit with Fair Work Australia's decisions to increase modern award minimum wages by 3.4 per cent.
Small businesses will be allowed to claim up to $5,000 as an immediate deduction for any car purchased during the 2012-13 financial year.
Retail trade figures released by the ABS has dropped 0.5 pr cent in March 2011 where the only positive turnover was seen in othing, footwear and personal accessory retailing up by a 0.1 per cent.
his news has been welcomed by both the ARA and the NRA that have suggested keeping the cash rate stable for retailers as to continue their recovery.
NSW retailers have welcomed the state government’s decision to think twice before prosecuting closed stores for restocking the shelves during the Easter shutdown, the ANRA said.
Both the ARA and the ANRA saidQueenslander's need for new household goods following the natural disasters of late December and January drove the 0.5 per cent growth in retail trade.
The retail industry is an award-dependent sector and has absorbed the wage increase of 2010 and a strategy is needed to ensure not to burden those sectors still moving towards recovery.
A new survey from the ANRA showed that at least three quarters of Australians used the internet to help them out with their shopping in the past three months
Following the Productivity Commissions’ call for submissions from retailers for its inquiry into the Australian retail industry, the ANRA said 2011 will be a critical year for retailers.
The latest retail trade figures from the ABS have confirmed that consumers continued to remain cautious during the crucial December period.
Both Woolworths and Coles are still on the ground and have begun assessing the condition of stores, indicating little damage was done except Woolworths at Mission Beach suffered some roof damage.
Retailers have welcomed the Reserve Bank’s decision to keep interest rates at 4.75 per cent as the early part of 2011 continues the 'challenging' theme of the 2010 for the sector.
Leading supermarkets and retail organisations are working together to resupply existing stores, Scott Driscoll, United Retail Federation national president, told Retailbiz.
Released on Monday, figures revealed that Australian retail turnover rose 0.3 per cent in November 2010, seasonally adjusted, following a revised fall of 0.8 per cent last October.
The ANRA continues to identify the areas most in need of help and provide support to get trucks through as quickly as possible.