SMH: Department store wars: Myer, DJs vulnerable in spending slowdown

Image Credit: SMH / Nikki Short

Retail experts predict bigger sales and better discounts in the lead-up to Christmas as consumer spending slows. Despite a 0.7% rise in national retail turnover in May, spending on household goods has dropped significantly over the past year. Trent Rigby from RetailOasis highlights, "Smaller wallets mean that retailers have to work harder to take an increased share of this spend, which often results in a lot of short-term sales promotion activity." Many retailers are ramping up discounting efforts to attract shoppers, with big sales expected to start as early as October. With rising costs, retailers are also using sales to manage excess inventory. Read the full article here.