What's your prediction on the Australian Dollar?

[Jleno]

i know this is slightly OT but some shop owners need to move with the times instead of complaining. the local shops in my area complain about lack of customers... but every morning I pass by them on the way to work at 845am and they are closed. every evening I walk past them at 615pm and the are closed. these are shops selling things like business attire or homewares... things I would buy if only they were open! and I can't be the only one in that boat. so stop complaining... and meet the hours I need you to be open... otherwise I will go elsewhere (or on line). and if paying staff is an issue... get in there yourself!!! as owner!!! no worry about salary then.

I am a fan of the longer trading hours and I look at places like Singapore and Hong Kong as the example of where retail makes sense. To a certain extent, the longer trading hours there is part of the reason why those places feel so much more alive - you have people out all evenings of the week and on Sundays. It's a very different system however because businesses can afford the wages there. With one of the highest minimum wages in the world here, as well as generally the cost of doing business in Australia (tax, compliance and regulatory), I suspect it just wouldn't make business sense.

Yet somehow despite the generally depressing mood in the economy and the dollar, Australians are still finding the cash to pay one of the highest prices in the world for consumer products (the recent article about Zara being most expensive here being one of many examples). I just refuse to play the game - I no longer bother to check prices in Australia any more (not even when there are sales). It's just much safer to simply assume everything is more expensive here than overseas, so I just save all my shopping needs until I travel.

So while people are talking about the movements in the Aussie dollar affecting retail prices, I think it still comes down to this - if the dollar falls, prices will generally go up. If the dollar rises, prices will stay up (since Aussies by and large seem to be happy to continue paying whatever price is asked of them).

 

[amaroo]

I am a fan of the longer trading hours and I look at places like Singapore and Hong Kong as the example of where retail makes sense. To a certain extent, the longer trading hours there is part of the reason why those places feel so much more alive - you have people out all evenings of the week and on Sundays. It's a very different system however because businesses can afford the wages there. With one of the highest minimum wages in the world here, as well as generally the cost of doing business in Australia (tax, compliance and regulatory), I suspect it just wouldn't make business sense.

The local rag has been running a few stories on penalty rates forcing cafes & restaurants to close on Sundays, Public Holidays.

Easter penalty rates a burden on business and workers | Sunshine Coast Daily

Penalty rates put Noosa on knees, says Chamber chief | Sunshine Coast Daily

Why would you open the doors if all you're doing is collecting tax & covering wages ?

 

[Jleno]

The local rag has been running a few stories on penalty rates forcing cafes & restaurants to close on Sundays, Public Holidays.

Easter penalty rates a burden on business and workers | Sunshine Coast Daily

Penalty rates put Noosa on knees, says Chamber chief | Sunshine Coast Daily

Why would you open the doors it all you're doing is collecting tax & covering wages ?

This is the world's most over-regulated country, so why am I not surprised.

 

[MEL_Traveller]

Why would you open the doors if all you're doing is collecting tax & covering wages ?

this probably requires a new thread now... but...

all of a sudden the 'I opened my restaurant or cafe because food is my passion and all I want to do is cook cook cook and make people happy' (every contestant on masterchef) has evaporated because you're not making a big fat profit on 11 public holidays a year? diddums.

get over it. if you are not in the restaurant or cafe business because of said passion then you really shouldn't be there. if you are actually losing money I could understand... but if you are just breaking even on a public holiday due to high wages... suck it up... give something back to your workers who rely on that holiday pay for their bills.

 

[amaroo]

this probably requires a new thread now... but...

if you are actually losing money I could understand... but if you are just breaking even on a public holiday due to high wages... suck it up... give something back to your workers who rely on that holiday pay for their bills.

Tourist dependant economies are doing it tough. The high OZ dollar has drawn the domestic spender away & all but evaporated the cashed up foreign traveller. The poor sods operating along Hasting St & other main strips on the Coast are slugged with OTT leases that must bring tears to the eyes.

I've seen first hand the changes with some of the local business that get our support - the baker has ceased to employ anyone on Sunday (husband/wife set up). Fabulous cafe/bistro is now closed Sundays (another husband/wife business, that has been opened for 10+ years).

Anyone that starts/purchases a small business and therefore, creates employment does a wonderful service to their community and country.

Lets hope they get to make some money out of it.

 

[Awesom Andy]

I no longer bother to check prices in Australia any more (not even when there are sales). It's just much safer to simply assume everything is more expensive here than overseas, so I just save all my shopping needs until I travel.

Don't take it for granted though. Just last weekend, I found a diamond ring in AU (2 carat, VS1, F) which cost less than the equivalent in HKG (about 10% difference in price). Not that we go shopping for diamond rings very often though.

Well, I don't mind the AUD going down a bit more... I'm due back for a visit next month.

 

[sumthinfornuthin]

i know this is slightly OT but some shop owners need to move with the times instead of complaining. the local shops in my area complain about lack of customers... but every morning I pass by them on the way to work at 845am and they are closed. every evening I walk past them at 615pm and the are closed. these are shops selling things like business attire or homewares... things I would buy if only they were open! and I can't be the only one in that boat. so stop complaining... and meet the hours I need you to be open... otherwise I will go elsewhere (or on line). and if paying staff is an issue... get in there yourself!!! as owner!!! no worry about salary then.

I work 6 days a week x 9 hours...would you like me to work 7. Try employing people and paying + Workcover + Super + holidays + sick leave + + + and then try and sell stuff at a price that enables all those add on costs to be covered then make something for me as well so I am not just a job factory providing employment for other people. Peple want to be be paid top dollar and I have no beef with that but it is hypocritical for the same people who want to be paid top dollar themselves to then drive the price down to cost on what they buy and expect other people to just wear it. Buy on line if you want but please don't whinge when you don't have a job because the poor schmucks in this Country employing people can't make a fair profit or compete because of the ease of purchase on the the Internet.

I can survive without my staff but they are good loyal people and I want to be able to employ them all and pay them a fair wage and make a reasonable profit for myself let alone some return on the capital invested in my business but it is getting almost impossible to do that.

Easy to be critical until you try it for yourself.

 

[MEL_Traveller]

I work 6 days a week x 9 hours...would you like me to work 7. Try employing people and paying + Workcover + Super + holidays + sick leave + + + and then try and sell stuff at a price that enables all those add on costs to be covered then make something for me as well so I am not just a job factory providing employment for other people. Peple want to be be paid top dollar and I have no beef with that but it is hypocritical for the same people who want to be paid top dollar themselves to then drive the price down to cost on what they buy and expect other people to just wear it. Buy on line if you want but please don't whinge when you don't have a job because the poor schmucks in this Country employing people can't make a fair profit or compete because of the ease of purchase on the the Internet.

I can survive without my staff but they are good loyal people and I want to be able to employ them all and pay them a fair wage and make a reasonable profit for myself let alone some return on the capital invested in my business but it is getting almost impossible to do that.

Easy to be critical until you try it for yourself.

i agree with all you are saying... but there also comes a point where I lose a bit of sympathy for shop owners... going back to my earlier example... one of the shops I pass sells ties, cuff-links and all sorts of other stuff that I would happily buy... and so would lots of others. the shop is very conveniently located where a lot of business people pass on their way to an from the station (in a fairly well to do suburb). but the shop will only open 10-5... which is just crazy to miss all the target market!!

and if you don't want to pay staff that long... then work your self from 8-10am and then 5-7pm. it is hard work... one if my family runs a small business... but you need at some stage to meet the needs of your potential clients.

 

[sumthinfornuthin]

i agree with all you are saying... but there also comes a point where I lose a bit of sympathy for shop owners... going back to my earlier example... one of the shops I pass sells ties, cuff-links and all sorts of other stuff that I would happily buy... and so would lots of others. the shop is very conveniently located where a lot of business people pass on their way to an from the station (in a fairly well to do suburb). but the shop will only open 10-5... which is just crazy to miss all the target market!!

and if you don't want to pay staff that long... then work your self from 8-10am and then 5-7pm. it is hard work... one if my family runs a small business... but you need at some stage to meet the needs of your potential clients.

Anyone who thinks they can run a businsss 10-5 is deluding themselves, they deserve to struggle. Our business is open long hours and my staff get paid bonuses to perform to encourage the extra sale but it is still not easy

 

[Cynicor]

Shops in SIN open later to compensate for their evening hours. The business day is approx 8/9pm-5/6pm and the shopping day is 10/11-9/10pm. Supermarkets open with the business hours. I feel this works better as I'm unlikely to buy a suit prior to work, but would buy one coming home, perhaps.

 

[Deleted member]

The problem is ( quite often in my experience ) staff don't care enough.
I am tired of walking into a store and being completely ignored by not 1. But 2 staff chatting about their weekend or some such.
I just walk out now. Sad for the small business owner. But a fact of life

 

[Deleted member]

This is the world's most over-regulated country, so why am I not surprised.

And any attempt to make it real again is derided as an erosion of workers rights.
While I know there are more issues at stake. But Ford Australia has this problem too. Process workers on executive salaries.
Not the base salary. But all of the allowances loadings etc.
and then we hear people are preferring to buy on line from overseas. The sooner the A $ falls back in value HHS better. Remember buy at home. The job you save maybe your own

 

[sumthinfornuthin]

The problem is ( quite often in my experience ) staff don't care enough.
I am tired of walking into a store and being completely ignored by not 1. But 2 staff chatting about their weekend or some such.
I just walk out now. Sad for the small business owner. But a fact of life

tell the boss, anonamously if you don't want the confrontation

 

[whatmeworry]

I know in Croatia and some other Southern European Countries stores close for a siesta in the middle of the day during summer. Bit annoying if your a tourist but good if you are a working local.

 

[JohnK]

My imagination or has the AUD been creeping up today?

I wonder what sort of scare will the experts have tomorrow to justify another fall?

 

[whatmeworry]

Short answer Yes.

 

[drron]

Not only restaurants amaroo.In Caloundra newsagents are no longer opening on Sundays.Our local one has stopped paper deliveries-hence we miss the last few AFRs from VA.But I am not complaining because I do understand the problems.

 

[amaroo]

Not only restaurants amaroo.In Caloundra newsagents are no longer opening on Sundays.Our local one has stopped paper deliveries-hence we miss the last few AFRs from VA.But I am not complaining because I do understand the problems.

Our newsagent has also ceased the paper run.......still open 7 days. Have noticed the owners are behind the counter on Sundays.

I have a friend that owns a successful deli/restaurant in Mosman, Sydney........he struggles to make any coin on Sunday/public hols due to the high penalty rates....the solution, he works 7 days a week. Reducing the overall number of people he employs.

Lifting wages is great in theory....... . However, theory and reality are often - very different.

 

[JohnK]

Short answer Yes.

That was short lived just like your answer....

 

[Edge]

My imagination or has the AUD been creeping up today?

I wonder what sort of scare will the experts have tomorrow to justify another fall?

unemployment numbers due today. if worse than expectations, AUD will drop. if better than expectations, it will rise.