Retail figures suggest Aussies are unwilling to spend on debit cards

By Mozo ·

The latest retail figures from the Australian Bureau of Statistics (ABS) suggest that Aussies are still unwilling to use their debit cards in stores.

Overall, there was a 0.1 per cent contraction in June this year, following a decline of 0.6 per cent in the preceding month.

This puts the annual growth rate at the lowest level seen since 1962, which may suggest that Aussies are opting to put their spare money into savings accounts rather than blowing it on shopping sprees.

CommSec economist Savanth Sebastian, told the Australian that Aussie consumers are "certainly depressed", noting that they seem to be unwilling to purchase goods despite lower prices.

However, a recent survey conducted by American Express suggested that shoppers may be more inclined to purchase items in stores with their debit cards if they feel customer service is good.

It revealed that compared to consumers in other nations, Aussies were among the most receptive to sales strategies that focused on their needs.

Have a question about debit cards? Ask the money gurus at Mozo AnswersADNFCR-1761-ID-800690214-ADNFCR