In a shock move, banking giant Westpac recently lifted their mortgage rates. The effect on retail sales at this stage is unknown as it is still unclear whether other big banks will follow suit.
The impact on consumers will also depend on what the Reserve Bank of Australia will do in relation to interest rates.
In a more positive light however, the Australian Retail Index reports that the second week of Spring has delivered great news for retailers with a lift in retail sales growth of 5.69% compared to the previous week (0.52%) .
“Despite these changes and in the lead up to Christmas, which is typically a time when people do feel able to spend, this insight should give retailers across the country some optimism, and I’m quite confident that we’re in for a good Christmas,” said Mr Trevor Evans, CEO of the National Retail Association (NRA) .
The Christmas period is vitally important for retailers. It is one of the busiest times of the year and one of the times of the year where many retailers see the highest rate of sales.
The difference between a good and poor Christmas can go to the viability of a business and set a business up for the quieter times of the year in terms of keeping the door open and staff employed.
Click on the video below to listen to NRA’s CEO, Mr Trevor Evans, provide retailer’s with the top 5 tips to think about in preparation for the Christmas period.
Mr Evans points out that in the lead up to Christmas retailers will need to think about recruitment and training.
Not only will retailers need to ensure that they have the staff available but that staff are trained for what is a really critical time of year.
In addition to product knowledge, customer service is one of the most important areas to ensure staff are fully prepared.
The NRA Training and Development team, a leading Registered Training Organisation, offer Customer Service workshops to all retailers for their employees and are the perfect tool to ensure staff are trained and ready for the Christmas period.
During this one day interactive and practical workshop we will show you how to develop a comprehensive understanding of customers’ needs, and an emphasis on establishing long-term relationships and mutual trust. By developing the essential attitudes and practices, you will be able to effectively accelerate your sales success.
The next workshop is on Monday, 9 November 2015 at the NRA Head Office in Brisbane.
To find out more or register online click here or call the NRA on 1800 732 066.