Confident Aussies ready to shop

February 23rd, 2012

It might be time to loosen the purse strings and purchase that spanking new appliance you’ve been wishing for, according to a new report which has found that Australians are the most confident consumers in all developed nations.

Half of the Australians surveyed said that the coming year was a good time to start buying discretionary items, such as household appliances.

The willingness to spend could be due to the finding that two thirds of Australians think their personal finances will get better in the next year. Comparatively, only half of global respondents think their financial position will be improving.

The Nielsen survey revealed almost a quarter of Australians are putting money towards home improvements and new technology over spending money on new clothes.

Chris Percy of Nielsen Pacific said consumers down under are perking up.

“While Australians still seem to be cautious, we have seen an uplift in consumer confidence in the last quarter,” Percy said.

Is a Jura coffee machine your new treat?

“Reports of low retail spending are still concerning, but we hope, or the retailers will hope, that this increased consumer sentiment will begin to translate into better results for retailers as 2012 progresses, although we still predict a challenging year ahead for the retail sector.

“The RBA’s surprise decision to keep rates on hold may weigh on future consumer sentiment, particularly with all of the major banks raising their mortgage rates independently of the RBA’s judgement, in a bid to protect profits.”

Paying off debts and putting money away in savings is still preoccupying consumers with 44 per cent saying they would save any spare cash and 34 per cent would pay off debts.

What’s the next appliance you plan on buying?

Keri Algar

Having once had to sit on the washing machine to stop it from bouncing into oblivion, Keri is today delighted with the new (smoother running) technologies that make housework easier every day. A self-confessed lazy-bones, Keri seeks out quirky inventions that ease the human workload, such as the robotic vacuum cleaner (wow). And as soon as someone figures out a Jetsons-like self-cleaning house, she will happily lay her pen to rest and retire from appliance journalism. Until then, her pick is a fridge that will tell her smartphone when it's time to pick up more beer on the way home. Magic.