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Lack of retail Christmas cheer set to benefit buyers
Australian retailers are heading into “the most wonderful time of year” without much optimism, meaning consumers might be gifted with bargains a lot earlier than usual.
Lack of retail Christmas cheer set to benefit buyers
Australian retailers are heading into “the most wonderful time of year” without much optimism, meaning consumers might be gifted with bargains a lot earlier than usual.
Deloitte’s Retailers’ Christmas Survey 2019 has revealed that it’s the most pessimistic retailers have been since 2013.
It comes off the back of a tough year for many retailers, with 47 per cent of Deloitte’s survey respondents indicating they’ve experienced flat or negative sales growth over the past 12 months.
As a result, Deloitte’s national leader in the retail, wholesale and distribution group, David White, has commented that “it’s probably no surprise many are also approaching this Christmas with a little less cheer, certainly compared to last year”.
“Just over 60 per cent are expecting to increase their sales this Christmas, compared to 80 per cent in 2018, and nearly 40 per cent are also expecting to see a decrease in seasonal margins,” he outlined.
Mr White said many retailers had pinned their hopes on federal government tax cuts, “but the latest trading data suggests consumers have chosen to keep any windfall in their pockets”.
“Retailers are no doubt hoping they’ve been saving up for Christmas,” he continued.
“As always, when to discount and by how much remains a critical decision for retailers over the holiday period.”
Mr White said 39 per cent of retailers are planning to discount before Christmas compared with 31 per cent last year.
Thirty per cent will do so in early December.
“And with the proliferation of sales campaigns such as next week’s Black Friday leading into December, many are concerned this could bring forward Christmas trading at discounted prices,” the retail expert highlighted.
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