Women are in need of a retail confidence boost, one survey has suggested.
An increase in the
interest rate has led to women requiring a confidence boost before retail recovery gets underway, according to one survey.
A study by AMP Capital Shopping Centres found that consumers are still acting cautiously before spending too much.
Stuart Langeveldt, head of marketing at the company, noted retailers need to think of new ways to encourage people to buy.
He added: "Women have always led retail recoveries and although many intend to spend less in several categories, there are clear signs of improvement from 12 months ago."
The report found that 40 per cent of people said they would purchase fewer takeaways – down on 54 per cent from last year.
Earlier this month, the Reserve Bank of Australia increased the official cash rate by 0.25 per cent to 4.25 per cent, which spurred many organisations into action.
ANZ - which offers the ANZ Balance
Credit Card, among others – decided to up its rates on credit cards and business lending by 0.25 per cent per annum.
By Joe Letts
