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  • #994375
    Extraordinary You
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    Good morning everybody,

    Just wanted to start a discussion about how everyone feels about customer confidence at this point in the year.

    With the May budget coming up, the current political situation, election at the end of year and school holidays coming up are other businesses noticing any positive or negative changes in potential customer confidence levels to spend money in their small businesses?

    #1196287
    arrowwise
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    It is fair to say there is reasonable level of political and economic uncertainty. Media is still mostly negative.
    Some businesses are feeling the pinch and scaling back accordingly, but doesn’t seem to be across the board.
    We need certainty in Government leadership and not too many major jitters in like the share market.
    Many are expecting Mr. Turnbull to have made some real tangible changes by now, but no major improvements are too clear for the common folk. His high level policy ideas will take time if he is able to push them through.
    I would say we are on similar par in confidence to this time last year, with serious risk of dropping a few notches in the short term.

    #1196288
    Extraordinary You
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    arrowwise, post: 231086, member: 54026 wrote:
    It is fair to say there is reasonable level of political and economic uncertainty. Media is still mostly negative.
    Some businesses are feeling the pinch and scaling back accordingly, but doesn’t seem to be across the board.
    We need certainty in Government leadership and no too many major jitters in like the share market.
    Many are expecting Mr. Turnbull to have made some real tangible changes by now, but no major improvements are too clear for the common folk. His high level policy ideas will take time if he is able to push them through.
    I would say we are on similar par in confidence to this time last year, with serious risk of dropping a few notches in the short term.
    I think you are spot on with your comments, thank you for your perspective.
    #1196289
    bb1
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    jagrukbharat, post: 231715, member: 78834 wrote:
    Definitely It will effect customer, but customer confidence level is not based on bugdet, everyone know about budget issues.

    So what is it based on

    #1196290
    bb1
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    jagrukbharat, post: 231728, member: 78834 wrote:
    I am only telling, budget and school holiday will not effect on small business.
    There must be some basis for that observation, normally they say the budget has a big impact
    #1196291
    bb1
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    Trustspot, post: 232205, member: 79021 wrote:
    We’ve noticed a positive increase in customer confidence, which I can assume is because of the holidays coming up.
    Interesting concept that customer confidence is going up because of holidays that are 6 months away. Interesting.
    #1196292
    bb1
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    Trustspot, post: 232214, member: 79021 wrote:
    Interesting indeed! Mother’s Day is only a week away :)

    Outside of that holiday, Fathers Day and than school is out.

    Of course I live in the United States so my holidays may be different for you.

    Interesting ;)

    Oh do you get holidays for Mothers day and Fathers day , that’s a bonus. And Fathers day is still 4 months away.

    #1196293
    bb1
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    But isn’t confidence really related to if consumers are willing to spend higher than the average spend for those times of year.

    As an example we all know that mothers days see’s a big jump in spending (more than fathers day), and we know the average trend for mothers day. So if confidence is high the spend will be higher than the trend, and if confidence is low the spend will be lower than trend. Just to use an example if confidence is on trend a mother will get 12 red roses and a 1kg box of choclates, whereas if its high they may get 2 dozen and a 5kg box of chockies. But no matter what they will get something which pushes the average spend at this time of year up.

    A holiday or event in itself isn’t a gauge of confidence, it is more the spend above or below the trend.

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