We Are Saving And Who Can Blame Us?

Australian consumers are looking to take greater control of their financial future. With the web and social media acting as the channels for great information, and not only that becoming fashionable.

A wide variety of business commentators and retail store owners have been telling us just how tough the Australian retail market has become. The most interesting comment came from Harvey Norman’s recent press release (Feb 29, 2012), in which the company stated that ‘deteriorating economic confidence and a prudent customer’ had contributed to a decline in profits.

People just seem to be far more cautious and prudent with their money these days and with the current economic environment, who can blame them!

Will economic confidence return? Yes

The prudent consumer is here to stay. Consumers have become savvier with their money. The internet and social media provide consumers with a forum to get the best deals and they find out about the best opportunities to save money.