Retailers optimistic for Christmas

RETAILERS in Australia are hoping shoppers live up to the expectations of a survey on Christmas spending intentions.

RETAILERS in Australia are hoping shoppers live up to the expectations of a survey on Christmas spending intentions.

Two-thirds of respondents say they will spend between $250 and $1000 on presents this year, but only 12 per cent say they will be spending more than they did last Christmas.

While the Australian Retailers Association (ARA) survey paints a picture of responsible spending, the findings are better than many in the industry expected.

ARA executive director Richard Evans said: “Despite an overly negative outlook on the economy at large, shoppers are still ready to open their wallets this Christmas.”

He blamed the gloom-and-doom message of market analysts for a sobering finding in the survey.

More than 62 per cent of respondents mistakenly believe Australia already is in recession.

Retailers are optimistic about solid sales this Christmas, although growth may not be as significant as last year's decade-strong trade.


AAP