Money This indicator suggests Australian retailers are hoping for a big lift in Christmas spending

10:10  06 november  2017
10:10  06 november  2017 Source:   Business Insider Australia

The hits keep coming for Australian households: petrol prices just jumped by the most in 13 years

  The hits keep coming for Australian households: petrol prices just jumped by the most in 13 years Australian household budgets, already under strain from weak income growth and higher utility bills, have just taken another hit with petrol prices soaring to the highest level in two years last week. According to Commsec, using data from the Australian Institute of Petroleum, the average price of unleaded petrol jumped by 9 cents to 136.4 cents per litre last week, the largest increase on record going back at least 13 years.

“Despite subdued retail spending , it appears that retailers are gearing up for a big Christmas spend .” NOW READ: I just got my latest energy bills — and they show Australian households and the economy are facing a big problem.

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a man wearing a red hat © Provided by Business Insider Inc Australian retail sales may be going backwards, but it's clear many retailers don't expect that trend will last.

According to jobs site Indeed, advertisements for casual and temp staff over the Christmas and Boxing Day period have increased noticeably compared to 12 months ago.

"Leading into Christmas, Indeed is seeing strong demand for retail positions, with Christmas job postings tracking almost 20% higher than last year," says Callam Pickering, APAC Economist at Indeed.

"Despite subdued retail spending, it appears that retailers are gearing up for a big Christmas spend."

In September, Australian retail sales came in flat, according to data released by the ABS, missing expectations for an increase of 0.4%. The soft result ended off a weak September quarter for retailers with sales falling by 0.2% and 0.5% respectively in July and August.

Amazon yet to announce firm date for Australian launch .
Amazon has given a vague date for its Australian launch, saying it will be “either before or after Christmas.” Yep, that helps a lot.While it wouldn’t say when, Amazon did invite some 600 smaller Australian retailers to a sellers’ summit in Sydney - a sales and marketing session to outline how it will launch in Australia. Its Australian manager told the gathering that, when it opens, it will sell products out of its own warehouse, which it will deliver. It will also allow retailers to sell their products from Amazon’s online marketplace platform, which they will have to deliver.

Source: http://au.pressfrom.com/news/money/-45626-this-indicator-suggests-australian-retailers-are-hoping-for-a-big-lift-in-christmas-spending/

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