Price is the key-factor for Australian consumers

When it comes to shopping and retail, loyalty means nothing and cost means everything, according to finance guru Scott Haywood.

Speaking to 3AW Drive, Haywood said price is now the key-factor for Australian consumers.

‘Australians now want the lowest price for everything. They want the cheapest cars, the cheapest phone, the cheapest house, the cheapest shirts etc…and we will shop to get it’ he said.

‘Anything local is going to be priced against an overseas competitor.’ 

Retailers are blaming deteriorating sales, general market conditions and poor cash flow as the reasons behind well-known Australian brands falling into administration. 

Click PLAY to hear the full discussion.