The Australian Retailers Association’s week-by-week tracking of retail trade during the Christmas period has found that last week over 64 percent of retailers were trading on par or below the same time in 2009.
Retailers comparing trading from 5 to 11 December 2010 to the same time last year said:
- Over 35 percent were trading above;
- Over 43 percent were trading below;
- Over 21 percent were trading the same as last year.
ARA Executive Director Russell Zimmerman said most retailers were anticipating this soft trade and last week’s trading met the expectations of almost one third of retailers.
“Sales are expecting to ramp up this week with almost a quarter of shoppers only just starting their Christmas shopping on Thursday 16 December and half of them finalising their last purchases between now and Christmas Eve. Consumers are extremely price sensitive this year with retailers reporting that higher priced items are being overlooked in favour of less expensive presents.”
Source: http://www.retail.org.au
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