The state of Victoria is close to recession
According to new figures from the Australian Bureau of Statistics (ABS), the state of Victoria is going into a recession. Spending in the state dropped by half a percent in the December quarter. Many believe that this is due to the high Australian dollar.
These figures have led to officials being concerned that Tasmania and South Australia are already in recession. It is worth noting that Western Australia and Queensland are continuing to perform strongly.
This information is likely to worry retailers in urban areas as well as those located in suburbs like Braeside. However, retailers need to be aware that some industries have been labelled ‘recession proof’. This is because they continue to have strong sales regardless of what the economy is doing. Businesses that do lose sales in times of economic hardship can take action to reduce their losses.
Many stores hold regular sales. Unfortunately, a lot of retailers do not advertise their sale prices adequately. One of the easiest and most affordable ways to market retail sales is by using printing services. These services can be used for flyer printing. The flyers that are created can then be distributed locally. When consumers see that products are still being sold at reasonable prices, they may decide to come out and shop. The key to keeping sales steady is advertising the business on a regular basis. While this will cost money, generally the profit that is made will offset the cost of advertising.
These figures have led to officials being concerned that Tasmania and South Australia are already in recession. It is worth noting that Western Australia and Queensland are continuing to perform strongly.
This information is likely to worry retailers in urban areas as well as those located in suburbs like Braeside. However, retailers need to be aware that some industries have been labelled ‘recession proof’. This is because they continue to have strong sales regardless of what the economy is doing. Businesses that do lose sales in times of economic hardship can take action to reduce their losses.
Many stores hold regular sales. Unfortunately, a lot of retailers do not advertise their sale prices adequately. One of the easiest and most affordable ways to market retail sales is by using printing services. These services can be used for flyer printing. The flyers that are created can then be distributed locally. When consumers see that products are still being sold at reasonable prices, they may decide to come out and shop. The key to keeping sales steady is advertising the business on a regular basis. While this will cost money, generally the profit that is made will offset the cost of advertising.