Gerrys stockpile

Broadcast:

Story Details

It's a direct assault on companies like Costco who buy in bulk and take a no frills approach. The Harvey Norman Big Buys allows you to shop online or simply walk in to one of three big buy warehouses.

In 2010 Gerry Harvey was cut down for criticising consumers for buying from overseas providers - now he's launched a new website.

You can pick up a 12 volt 39-litre firdge-freezer for $550 - you can pay up $950 for the same product. You can get up to 70 percent off tools, toiletries and even tents.

Business analyst Peter Switzer from www.switzer.com.au says companies like Harvey Norman, DJ's and Myer can expect more financial pain unless the reserve bank continues to ease the grip on Australian wallets.

"We need to see more cuts - the reduction rates we've seen so far isn't enough to turn retail around, isn't enough to stop people from saving. Australians got really scared with the reverse banks policy with the GFC, and also rising unemployment, so what we need to see is a confidence booster," Mr Switzer said.

"One or two cuts is not enough - we need to see three of four - and when that happens, I think Australia is going to change its attitude to debt, and they'll start spending again and retail share prices will start to improve."

Today Tonight viewers exclusive: a $60 hedge trimmer free with every purchase of a chicken coop and it's for seven days only.
Contact details

www.harveynormanbigbuys.com.au/todaytonight.aspx

Share