This what the RBA wants so that inflation goes down so they dont put up interestrates. But reduced consumer spending wont stop corporations like Origin Energy from putting up their prices by 10% which is inflation inducing.
The main thing propping up the economic number is gov spending in less than ideal circumstances (unproductive spending), however, ironically, this is also prolonging inflation which prevents the RBA from cutting rates, which would actually give relief to the productive private economy that is really hurting.
Wow...the CEO of the largest traded company reading from a script during a live interview. Completely out of touch with the reality of customers facing the cost crunch. What a downfall. Do better mate!
Westfarmers owns Kmart which is a low cost department store. It is literally part of his job to understand what appeals to lower income consumers, and hire other people that also understand.
Straight off the bat: why Australian consumers are keeping a “tight grip” on their wallets. Pisses me off instantly, the idea that so many of us are limiting spending by choice. Don’t gaslight us!
Technology does not drive down prices in the short term cause there is the capex that is spent, if Rob is using technology as the factor that drives down cost then it means costs are not being driven down. I work in the sector and know in the short term implementation costs are high, you replace 4 on the floor staff with 1 engineer who gets paid significantly as well server and licensing costs for various software components. Prices will go down but it needs to be amortized over a 10 possibly 15 year period, within the first 5 years there is no ROI and hence no cost savings. Essentially the question: "what are you doing to help reduce costs for consumers" and answering "technology" is another way of saying, there are no cost savings, atleast not in the near future.
good example Kleenheat LPG gas that comes from the North West via Perth then shipped 2700km into Victoria constantly retails for 20c per litre less in Victoria than Perth
This what the RBA wants so that inflation goes down so they dont put up interestrates. But reduced consumer spending wont stop corporations like Origin Energy from putting up their prices by 10% which is inflation inducing.
The audible keyboard typing on Bloomberg is really distracting.
@@JohnSmith-cu8yc Yes, I have noticed this on previous videos
Yes!!
The tiny gdp growth was disguised by huge number of immigrants.
Nice little plug there for wesfarmers.
Did I just watch an advertisement????
You did
Their businesses are priced like the monopolies many of them are….
What is this constant noise of clicks and keyboard typing? Seriously Bloomberg!
owning both competitors Kmart & Target has never made sense to me
@@mistercut8331 eh. Its like TTi. Milwaukee and Ryobi. They target different demographics but have some overlap
The main thing propping up the economic number is gov spending in less than ideal circumstances (unproductive spending), however, ironically, this is also prolonging inflation which prevents the RBA from cutting rates, which would actually give relief to the productive private economy that is really hurting.
Let's interview a shark to talk about sharks that are killing people on the beach. That's the vibe of this interview
Wow...the CEO of the largest traded company reading from a script during a live interview. Completely out of touch with the reality of customers facing the cost crunch. What a downfall. Do better mate!
Westfarmers owns Kmart which is a low cost department store. It is literally part of his job to understand what appeals to lower income consumers, and hire other people that also understand.
@@renolouis sounded like chat gpt
Wrsfarmers are a joke
What is the point of Shery Anh being part of this interview?...
Straight off the bat: why Australian consumers are keeping a “tight grip” on their wallets. Pisses me off instantly, the idea that so many of us are limiting spending by choice. Don’t gaslight us!
You should mute your microphone when not talking - Keyboard typing annoying to hear
Technology does not drive down prices in the short term cause there is the capex that is spent, if Rob is using technology as the factor that drives down cost then it means costs are not being driven down. I work in the sector and know in the short term implementation costs are high, you replace 4 on the floor staff with 1 engineer who gets paid significantly as well server and licensing costs for various software components. Prices will go down but it needs to be amortized over a 10 possibly 15 year period, within the first 5 years there is no ROI and hence no cost savings. Essentially the question: "what are you doing to help reduce costs for consumers" and answering "technology" is another way of saying, there are no cost savings, atleast not in the near future.
Right to disconnect, there is no such thing in real life practice in oz.
Any future PM should be sending them overseas with Trade Minister's so they can set up shop in Asia/Pacific, Oceania and Global South.
Is this footage from Australia? Could have fooled me...
What’s with the typing in the background?
oh so now we are on a 2-3% inflation target pretty sure it used to be 2% so just given yourself a 50% wiggle room
The 2-3% target range was set more than 30 years ago in Australia.
🥱......😂
We need to stop the negative gearing and older generation spending so much moneyb
@@culturekingsboy6555 that’s it. Boomers are loaded right now
It’s called saving and investing.
Australia has many problems but the elephant in the room is the crazy immigration numbers, and this can be easy stopped post haste
Monopoly ..
good example Kleenheat LPG gas that comes from the North West via Perth then shipped 2700km into Victoria constantly retails for 20c per litre less in Victoria than Perth
Rob scott get some good sleep.
I'm glad I paid off my home loan when rates were cheap.