By Kymberly Martin
Pointing to a Merry Christmas for retailers.
More optimistic signals for end-of-year trading continue to pop up indicating retail business for Christmas is heading in the right direction. According the latest ANZ/Roy Morgan consumer confidence data, households are feeling positive about their finances. Consumer confidence levels were also well above the average for the last two years, with expectations of economic conditions in the next 12 months and the next five years both improving. National Retail Association CEO, Dominique Lamb said this measure is closely tracked by the Reserve Bank, and may influence the bank’s monetary policy into 2017.
However, on a more concerning note, a number of state and territory governments have introduce public holidays, mostly without any consultation with business. These unilateral decisions, Lamb said, will severely affect small retailers, particularly when they are announced at short notice. “As well as adding to the wage bill, prompt retailers to cut staff levels or close their doors, these sudden changes can impact on the ability of businesses to open their doors when they want to. It’s not reasonable that states spring these surprises on business owners and expect them to simply pick up the tab and not complain,” she said.