Australia’s biggest stores are in for jingle hell this Christmas

The weakest run-up to the Christmas sales period in four years and the absence of a"killer gift" to get shoppers moving mean Australia’s major retailers will have a less than festive season this year,analysts predict.Store foot traffic is down about 1 per cent compared to last year so far this season, according to research by Citi, which fingered weak household income growth and consumers having to spend more on essentials like mortgagesand utility bills for the shopping slump.
"The signs are not great because the lead-up has been soft, discounting has been pulled forward and there are few ‘must-have’ items this year," analysts led by Craig Woolford wrote.
"Christmas day falls on a Monday which will result in a late surge, but the buzz is not strong so far." Sydney Morning Herald – Read more…