Australian shoppers flock to the Boxing Day sales despite poor sentiment
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Retailers in Australia were delighted by a strong turnout of shoppers on Boxing Day, giving analysts further reason to suspect a turnaround in consumer sentiment.
Myer executive general manager stores, Tony Sutton, said the crowd through the doors at the Melbourne Bourke Street store at 5am looked like its biggest in a decade.
Accounting firm BDO reported that spending in the week before Christmas was up 13 percent on 2013. BDO national retail lead partner Simon Scalzo said the last few weeks of December had seen a shift in consumer sentiment and now more people were willing to spend.
Questions & Answers
Q.Which specific Australian retail chain reported a significant turnout for the Boxing Day sales?
Which specific Australian retail chain reported a significant turnout for the Boxing Day sales?
Myer's executive general manager of stores, Tony Sutton, noted that the crowd at their Melbourne Bourke Street store at 5am appeared to be the largest in a decade. This indicates a strong turnout for the department store.
Q.What was the reported increase in spending during the week leading up to Christmas?
What was the reported increase in spending during the week leading up to Christmas?
Accounting firm BDO reported that spending in the week before Christmas was up 13 percent compared to figures from 2013. This suggests a positive shift in consumer spending habits leading into the holiday period.
Q.Which company commented on the apparent change in consumer sentiment in December?
Which company commented on the apparent change in consumer sentiment in December?
BDO's national retail lead partner, Simon Scalzo, observed that the last few weeks of December showed a shift in consumer sentiment. He noted that more people were willing to spend during this period.