Frightened consumers can only mean bad news for retailers
Retail companies and their investors that were hoping the sudden sharp fall in consumer confidence in response to the federal budget would be short-lived are now starting to worry. The howls of joy from the business community last year when the Abbott government came to power are getting fainter, particularly from those who sell discretionary items to the public.
In the main the Abbott government’s first budget was kind to business, leaving most of the pain to be shouldered by lower-income earners. But crimping the buying capacity of some consumers and frightening the remainder can also be bad for business. Sydney Morning Herald – Read more…