"Smart Shopping" In The Christmas Consumption Season In Australia

Wandering around the main supermarkets in Sydney, Australia, people often see signs with "Sm art Buy".

The author found that as a pursuit of affordable consumption concept, "smart shopping" has penetrated into this year's Christmas shopping season - Australian consumers seem to be more adept at finding cheaper than ever before, reflecting the complex situation of the strong economy and tight monetary policy in this country.

In Martin square, Pitt Street, Sydney, a company runs high-end brands such as Armani.

Perhaps I saw that the author had no intention of shopping, and Nick's attitude gradually cooled down.

When asked about his recent business, he was slightly displeased, but insisted that business was good.

However, according to the author's observation in the vicinity, in nearly twenty minutes, Nick's store only ushered in a customer.

Compared with the "half off" discount of Nick store, a nearby company called "

In the Sydney's Queen Victoria Building shopping center, I saw a similar scene. SWAROVSKI crystal shop did not offer a discount, but it was full of guests. A discount from a diamond jewellery shop across the street was available.

A staff member who refused to be named told me that because of the higher interest rate, consumers are more cautious when buying luxury goods.

However, because of the better economic situation, the overall sales situation of shopping malls is not much different from that of previous years.

Under the conditions of strong economic growth and low unemployment in Australia, consumers' general pursuit of affordable measures can be explained from the current tight monetary policy.

To prevent overheating and inflation risk, the Bank of Australia raised its benchmark interest rate to a high level of 4.75% in early November, and commercial banks generally raised mortgage interest rates to above 7%.

Some retailers say that when the Christmas shopping season begins, the timing of the central bank's choice of raising interest rates is "bad enough", which will seriously hamper credit consumption.

Affected by this, some retailers even cancelled Christmas season orders.

As a stakeholder of high interest rate policy, the consumption tendency of mortgage borrowers is obviously curbed.

According to a recent survey conducted by LoanM arket, a housing loan agency, nearly 2/3 of respondents reassessed their consumption behavior because of interest rate hikes. 1/10 respondents decided to cut down the Christmas shopping plan; 35% of them had negative evaluations of bank interest rate hikes.

Besides, bad weather may also be a bad factor in Australian retail business.

Statistics from M acquarieE quities show that under the influence of rainy weather, the traditional consumption day of 1/3 has been damaged in the spring shopping season just in the past.

Today, rainy weather continues in major Australian cities, which is expected to also affect Christmas shopping season data.

Shane Olive, an economist at A M P, an insurance giant in Australia, said that the global financial crisis has made consumers more sensitive to debt levels, thereby affecting people's consumption preferences.

In addition, Olive believes that the European debt crisis, the decline of the US economy and the controversy over domestic banking reform will also affect the mentality of investors and consumers.

"This is a global phenomenon, and consumers in the western world are all worried," said Alan Oster, chief economist of N A B (A LAN O ster).

He pointed out that in addition to mining, under high interest rates, other industries in Australia will not have a good time.

However, when the industry is in a state of panic, Australian consumers show amazing tolerance.

{page_break}

According to a survey released by the Western Pacific Bank and M elbourne (15 elbourne) on December, the Australian consumer sentiment index in December was 111, slightly higher than the 110.7 in the previous month.

The index also shows that consumers are optimistic about their financial situation and prospects.

On the one hand, the rapid growth of mineral exports, on the other hand, is faced with tight credit consumption; on the one hand, the low unemployment rate; on the other hand, the rising interest rate level; on the one hand, the unprecedented optimistic financial statements of banks; on the one hand, the government's tightening supervision network; on the one hand, the enterprises who complain incessantly, on the one hand, the consumers who are generally optimistic.

This cold, hot, and tight one reflects the complex variables of Australia's economy.