Retail in Asia

In Markets

Australian retail hit by shoppers’ jitters

Australian shoppers have become more value-conscious, Woolworths CEO Michael Luscombe told a retail forum organised by the Australian National Retailers Association on Thursday.

"[People are] concerned the world has not got out of the financial mess caused by Europe’s sovereign debt issues," said Luscombe. "There is no doubt that consumers have put a self-imposed slowdown on their spending," he added.

(Source: The Australian)