If there’s a silver lining to the current economic downfall, it’s that the falling Aussie dollar will keep electronics and gadgets at cheap prices
If there’s a silver lining to the current economic downfall, it’s that the falling Aussie dollar will keep electronics and gadgets at cheap prices.
Retailers and economists say the drop of the Aussie dollar to a five-and-a-half year low of 63US cents has increased import costs, but the extra prices won’t be passed on.
CommSec equities economist Savanth Sebastian told The Age retailers will want to ensure prices stay low.
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“In this environment you’ve got a significant global economic slowdown, you’ve got a global recession on your hands… retailers will want to ensure that prices are kept as low as possible to ensure that customers continue to churn through the turnstiles,” he says.
“If we were back a year ago in strong economic times, this fall in the Aussie dollar would have probably seen retailers increase prices because demand was significant.”