Despite warnings of subdued confidence, consumers are continuing to purchase digital devices from local retail outlets as technology products continue to decline in price, new research has found.
According to Gerry Harvey local consumers should be “as happy as pigs in sh**” and spending their cash, given low unemployment and the resources boom.
Assistant Treasurer Bill Shorten has spoken about the Productivity Commission (PC) draft report into the future of the retail industry released last week, declaring the review makes it clear the Australian retail sector has a bright future but needs to continue to innovate and change.
Poor spending looks set to continue hurting the retail industry, with the Commonwealth Bank Business Sales Indicator (BSI) falling again in June.