SYDNEY: Australian women are reluctant to spend more across 16 retail categories, with one-third cutting their spend on clothing, shoes and accessories, a survey has found.
AMP Capital Shopping Centres' Shopping Intent survey revealed that women are still in the market for sales and are setting budgets for their spending.
AMP Capital Shopping Centres head of marketing & communications Stuart Langeveldt said: “Historically, women have always led retail recoveries. With a Federal Election imminent and interest rates expected to rise further, Australian women are hedging their bets on possible scenarios, in order to protect their families.
“Australians are managing and planning their spending in a more considered way,” he added.
However, some retail categories hit hard by the global economic downturn in 2009 are showing signs of recovery.
The survey found that across all Australians eating out in cafes and restaurants saw the biggest shift in spending behaviour over the past year, with those spending the same or more growing to 55% compared with 35% for the same period last year.
In terms of clothing, shoes and accessories, 65% of shoppers are spending either the same (56%) or more (9%), but 33% are spending less.
The survey also found one in 10 Australians now have a budget as a direct result of the GFC, while Gen Y’s spending is more bullish than older generations.
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