NATIONAL: Over half of Australian consumers spent the same or more over Christmas 2008 as they did in the previous year, according to a new report from the Australian Centre for Retail Studies (ACRS).
ACRS executive director Jeff Rogut claimed an Australian Consumer Climate Study conducted by the centre found some 63 per cent of households expected their financial situation to remain the same or improve over the next six months.
He said although the underlying mood for 2008 was one of "uncertainty", there was some hope for retailers in the year ahead.
"[Christmas] was a strong period for retailers. Even though sales took off late in the month and heavy discounts were the order of the day, there is optimism amongst Australians for the year ahead."
Under half of respondents (46 per cent) in the ACRS study reported spending less on their credit card over Christmas, with 57 per cent attributing this to reducing personal debt.
Rogut said customer service in the new year was more important than ever as consumers readjusted their spending habits. The study found 79 per cent of respondents felt now was a good time to save and 42 per cent already saving money.
"Customer service in times such as these is critical. Customers are being far more selective as to where they spend their money so make it easy for them to do business with you," Rogut advised retailers.
The study surveyed 998 consumers between December 26, 2008 and January, 5 2009.