While there’s been a long general belief that price has been one of factors as to why some retailers are doing better than others, a new study has revealed customers find it rather frustrating that retailers discount.
Customers are expected to remain cautious in the lead up to Christmas, with non-essential spending expected to fall as consumer concern about financial security rises.
Consumer sentiment only increased a slight 1 per cent in October from 98.2 in September to 99.2 in October, according to the Westpac Melbourne Institute Index of Consumer Sentiment.
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.
Australians made about $250,000 worth of eftpos transactions almost every minute of every day during the month of July, setting a new record for eftpos transaction volumes outside of the traditionally busy Christmas period.
Retailers are expected to rely on discounting to lift sales this Christmas as selling prices now reach the lowest level in more than two decades, according to the latest Dun & Bradstreet survey.
While private labels have been the pick of the bunch for the last five years, a Neilsen report has identified that for the first time household penetration has dramatically fallen.
While for most parts, the retail sector is doing it tough, online sales trend continue to remain robust as it was up 22 per cent year-on-year in August, according to the National Australia Bank online retail sales index.
Choice recently conducted a Shadow Shopper survey for the top ten retailers in Australia to see how their customer service skills stack up against one another.
Australians have some of the lowest expectations of customer service in world, according to the latest findings of the American Express Global Customer Service Barometer.