Retail in Asia

In Shops

Australian shoppers in “crisis mode”

Further proof of the nervous and skittish nature of local consumers has been laid bare with a new survey from The Boston Consulting Group (BCG) showing Australian shoppers are among the most worried and financially insecure in the developed world, and plan further cutbacks in their discretionary spending.

The leader of BCG’s consumer practice in Australian and New Zealand, James Goth, said local consumers were effectively in "crisis mode".

"We might be half a world away from the European financial crisis and the high unemployment levels of the northern hemisphere, but Australian consumers are just as battered and cautious as those in the US, the UK and many other developed countries."