Consumer confidence in Australia has been known to tumble in the wake of the Federal Government’s budget announcement, which for 2018, takes place on Tuesday 8 May.
Inevitably, Australia’s stores are affected if the budget has a negative impact on consumers. ShopperTrak data shows that, dating back to 2013, every May there’s been a sharp traffic decline in the lead up to, and in the immediate aftermath, of the Federal budget announcement (see graph).
Key findings of ShopperTrak data:
- The annual budget announcement takes place on a Tuesday, and the clear trend is that visitor numbers on this day are always lower than the average Tuesday for the year.