Technology retailer JB Hi-Fi Ltd has said it will benefit greatly from the government’s latest $900 stimulus payments, believing many younger consumers will spend their money on tech products to ‘treat themselves.’
JB Hi-Fi chief executive Richard Uechtritz believes that the younger generation will spend their payments on new products as many are not tied down by mortgages or bills.
“(The handout) is going to many of the demographic that love JB, which is the young males and females, the 18 to 30 year olds.
“A lot of them don’t have mortgages, their sentiment is not as low as people who have share portfolios that are worth half now, and real estate that is down – they are the spend generation.”
Mr Uechtritz expects sales of laptops, games, iPods and iPhones to spike over the next couple of months.
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