Aussie consumers go online in search of savings

Despite concerns the negative fallout from the European debt crisis might spill over into the domestic market, it seems that Australian consumers are still happy to part ways with their hard earned savings.

The latest figures to come out of the Australian Bureau of Statistics (ABS) on retail trade and trends show that turnover was 'flat' in November at $20.93 million.

And while some bricks-and-mortar retailers may question the accuracy of these results, it seems that more and more people are turning to online providers to make purchases.

In an interview with the ABC senior economist George Tharenou suggested that these figures could be even higher, as measuring total spend in the online space can present certain difficulties to researchers.

"Consumers have been shifting their spending patterns particularly towards things like overseas travel, with the very high currency, and other areas of services," he said.

"The online presence is also an issue, where the data may not be fully capturing the extent of spending."

With overseas trips and the latest designer threads on wish lists around the country, savvy shoppers may be looking for ways to save money.

By comparing electricity suppliers consumers may find that they can reduce their energy bills and put those savings toward their next overseas adventure.

Posted by Charlie Moore