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“I am coming here with some relatively good
news. After six long years of pain and fear, the
major advanced economies are finally
building momentum. While two of the four
cylinders of the global economy’s growth
engine – credit growth and emerging market
activity – are still running below full speed,
there are encouraging signs that the other two,
trade and investment, are finally warming up.”
Angel Gurría Secretary-General of the OECD 6 May 2014 Paris, France
“We need to rebuild trust in government
and public institutions. Trust has been
seriously damaged by the crisis. After years
of low or negative growth and fiscal
stringency, policymakers are facing their
challenges with depleted political capital.
The only way to restore confidence is to
seize the window of opportunity that has
now opened to set global growth on a
stronger and more sustainable footing.”
http://www.oecd.org/newsroom/global-economy-strengthening-but-significant-risks-remain.htm
“Output is projected to increase by 2½ per
cent in 2014 and by nearly 3% in 2015, with a
general pick-up in demand offsetting declining
investment in the resource sector. Some
economic slack will remain and the
unemployment rate will not begin to edge
down until the second half of 2015.”
OECD Australia Economic forecast summary
May 2014
“Given near-term uncertainties in the
rebalancing of the economy away from
investment in the natural resource sector,
heavy front loading of fiscal consolidation
should be avoided. Against the backdrop
of the projected recovery, monetary
stimulus should start to be withdrawn in
the first half of 2015.”
Global
Business Consumer
Domestic
Economics
Confidence
Business challenges …
1. Economy and business confidence
2. Government red tape
3. Legislation
4. HR and recruitment
5. Awards and wages
8%
25%
23%
28%
26%
37%
27%
45%
60%
6%
16%
16%
20%
17%
27%
25%
39%
56%
10%
16%
19%
19%
20%
23%
25%
39%
55%
Charities / financial donations
Shopping for computers,
technology, electronics, phones
etc.
General shopping online or via your
mobile phone / tablet
Large items such as cars, home
renovations etc.
Shopping for clothing and fashion
Travel - including accommodation,
airfares etc.
General shopping in traditional
stores - i.e. Not via the internet or mobile phone / tablet
Shopping for groceries, fruit and
vegetables, meat etc.
Household bills
THOSE LIKELY TO SPEND MORE ON THE FOLLOWING IN
THE NEXT 6 MONTHS
[Much more + slightly more responses]
May 2014 March 2014 November 2013
Even with confidence, the one certainty in life is that bills will continue to increase
Confident
Uncertain
Unconfident
“Consumers are looking for good
value products and services, and
if there is a problem it is
dealt with sympathetically”
Price
Quality Brand
Experience
Value Trust?
Ultimately consumers want …
1. Relevance “If you’re not relevant, you are invisible!”
2. Sincerity “If you’re not sincere, I can’t trust you!” “Don’t give me any bullshit!”
Strategic focus, and quieting the noise …
1. The things we can control
2. The things we cannot control
Embrace change!
Social
Information Fundamentals
Lifestyle
Global
Me
Local
Community
