Savings hungry Aussies foresaking the meat pie

Mozo

Thursday 04 April 2013

Australia's current disposition to up their savings accounts is having an odd effect on confectionary sales, according to the News Limited Network.

A meat pie rejected by Aussies hungry for savings

Easter may have passed but it seems that Australia's love for chocolate is an ongoing affair. Sales for the likes of chocolate bars and other confectionary goods in convenience stores and service stations have seen a 19 percent increase in sales since 2012 to $711 million, with two-thirds of that going on a chocolate fix.

According to the head of BIS Foodservice Sissel Rosengren it's simply because Australians are so fixated on topping up their savings accounts and chocolates are a quick cost effective personal treat, in era of cutting back on unnecessary expenses.

"It is because chocolates are a cheap way we can reward ourselves quickly," said Mr Rosengren.

But the biggest behavioural change, that will comes as a large shock to many Australians, the iconic meat pie and sausage roll have received a shunning resulting in a 9 percent drop in sales, being knocked back by the ever growing supermarkets and fast food chains offering cheaper deals.

According to social researcher Charlie Nelson the change is being bought on by a combination of the realisation that a couple of dollars a day adds up to hundreds of dollars a year, people feel they have less money and a determination to build up savings.

"You put all these things together, you don't like plastic anymore, people are keen to save money, and concerns about unemployment, it's no wonder people are looking at ways to cut back on things," said Mr Nelson.

Chocolate might not be kicked off of anybody's necessity list any time soon but for those who are determined to fulfill their savings could find their goals realised a lot quicker with the right savings account. The best way to go about this is to find the best high interest savings account.

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