Shoppers 'jaded' by continuous sales

Friday 17 September 2010

Article by Mozo

Shopping are growing weary of the continuous sales on Australia's high streets, new research suggests.

A poll of 1,000 shoppers, commissioned by AMP Capital Shopping Centres, found that 45 per cent are no longer persuaded to part with their cash by discount offers.

Indeed, the study revealed that despite the improving economic outlook, shoppers are not particularly confident, with 48 per cent of respondents citing concerns about rising utility costs, 41 per cent worried by personal debt levels and 22 per cent anxious about the threat of rising interest rates.

Rising conservatism has prompted some shoppers to compare debit cards in search of the best debt-free spending options. Commenting on the survey findings, Westpac senior economist Matthew Hassan suggested that forecasters would have to account for the dwindling confidence of consumers.

Speaking to the Australian, he said: "The survey is telling us we are not in the full flush of consumer spending and we have to (heed) what retailers are saying."

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