According to the latest Consumer Confidence Rating, compiled by Roy Morgan Research, the majority of Australians are feeling comfortable with their personal finances and ready to spend some of their hard-earned money.
More than 1,000 people over the age of 14 were interviewed to garner the following facts and figures.
An impressive 34 per cent of those who contributed to the Consumer Confidence Rating said they are “better off” this year than they were in 2012. This is an increase of 5 per cent when compared with last year’s responses.
In addition to this, 38 per cent of respondents are feeling optimistic about the Australian economy in the next 12 months, while 41 per cent “expect the Australian economy to have ‘good times’ over the next five years”.
Those who work in the retail sector will be pleased to learn that 55 per cent of the people interviewed by Roy Morgan Research said they felt that now was a great time to buy major household items.
This represents an increase of 2 per cent in the past 12 months.
So, you might want to consider preparing your business for a influx of consumers in the coming weeks and months. In addition to minimising risk of accidents in your store, you may also want to look at your retail insurance options.
MGA Insurance Brokers can help you find the small business insurance policy that’s right for you and your industry. We offer a wide range of insurance packages that are designed with certain business types in mind.
For instance, we have an insurance package for organisations operating in the pet industry.
Whether you’re selling pet supplies or own a grooming salon, we can help you organise cover – such as property or public liability – that will give you peace of mind and protect your business if and when it suffers from a damage-causing event.