Why Australian retirees spend their money overseas

On November the 14th I wrote about the juvenile perfumes that are on sale here in Australia. Apparently, these weak lolly water essences are directed towards the pubescent girls who are mad about Justin Bieber and Little Boy Bands.

Coincidentally,  on the following day,  Robert Gottliebsen, who is a famous economist,  wrote an article in “The Australian” newspaper entitled  “Marketers ignore the over 65s, the only age group who have money and want to spend.”

It is a lamentable fact that retail spending has declined and Gottliebsen blames the retailers who have ignored the only demographic who can actually afford to buy.

Retailers have been hoping that Christmas shopping will help them out of this decline,  but,  in my opinion the anticipated splurge by unfunded shoppers  will only lead to more personal debt among the younger age group.

If only the retailers would provide goods that would appeal to the richest group in our society, the cashed-up over 65s, then these retirees would not have to do their shopping on overseas trips or online with overseas businesses.

I’m sure that they would much prefer to contribute to the Australian economy instead of sourcing their goods,  such as adult perfumes,  from other parts of the planet.

 

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