Retailers Are Bunkering Down For A Tough 2008

Retail is Bunkering Down for a Tough 2008

"ABS retail figures for the June quarter confirms what we already know - the retail sector is bunkering down for a rough 2008," CEO of the Australian National Retailers Association, Margy Osmond said today.

"ABS stats confirm what retailers have known for months now consumers are in retreat, and are being ultra-cautious in their spending," Margy Osmond said. "There are a few beacons of light though.

"Sales of household goods are up by 0.8 per cent buoyed by a run on plasma TVs as people prepare their lounge room for the Beijing Olympics.

"When times get tough people tend to treat themselves to smaller purchases like a new lipstick or a hand cream, and this is reflected in the monthly figures. Other retailing is up 0.3 per cent."

"The next figures might show a bounce due to the extended mid-year sales and tax cuts, but there are no illusions in the sector. 2008 will be a tough year," Margy Osmond said.

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Liz Rodway
M. 0417 817 970
www.anra.com.au

ANRA was founded in 2006 to become the voice of large scale retailers in Australia.


SOURCE: Australian National Retailers Association