On Consumer Spending:
The Bad News – Australian consumers are saving at record levels with a consequent reduction in retail spending which has created the worst retail drought in decades.
The Good News – The Reserve Bank of Australia says historic trends in consumer behaviour tell us that the retail drought is not sustainable. Consumers will bounce back in typical cyclical fashion as soon as they feel more comfortable with economic conditions. The Australian economy, led by significantly improved Balance of Payments figures, is doing its part. The rest of the world?....not yet!
On The US Economy:
The Good News – Congress has reached agreement on lifting the US Debt by $2.4 trillion to enable ongoing economic strategies.
The Bad News – The agreement was reached in such a messy manner that little confidence can be attached to it. To get this into perspective, it should be noted that Australia’s debt is roughly 25% of Gross Domestic Profit and falling. The US debt is 95% of GDP and rising. No wonder US politicians are questioning how often they should go to the cookie jar.
On The Queen Victoria Market:
The Bad News – General Merchandise Traders (the top end of the market) have suffered from marketing neglect over recent years.
The Good News – Marketing Assistant, Andrew Cyples, is working diligently to correct the neglect with a variety of measures including the current push on online marketing. You are encouraged to submit your product specials to Andrew by emailing - info@qvm.com.au