Retail in Asia

In Shops

Thrifty buyers in Australia make the year fashionably difficult

Mid-priced fashion retailers in Australia are underperforming the rest of the market, as baby boomers and Generation Xers cut back on retail spending and consumers pour money into savings accounts, overseas travel and online retail instead.

Commonwealth Bank’s analysis of the spending habits of 3 million customers across 109 fashion merchants shows that middle-market fashion retail experienced the slowest growth over 2011, at 8 percent below average.

This compares with growth 5 percent above average for high-priced goods and minus 4 percent growth for low-priced goods.