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Consumers starting to get the message about green shoots, marketers say

Australian consumers are on the verge of overcoming their nervousness about the economy, marketers have predicted.

Speaking at a breakfast organized by the Australian Financial Review and Nine Entertainment Co, Westpac marketer Damian Eales said he thought international “green shoots” could have a local impact.

Improving job numbers in the US, an apparent solution to the European debt crisis and the fact that “China did not fall off the cliff”, were all good signs, said Eales.

He added: “We are seeing the venture capitalists coming back into the market because they can see undervalued companies.

“It will be interesting to see how that all plays out on confidence.”

Telstra marketer Mark Buckman said that consumers were willing to spend if brands gave them value. He said: “Although there might still be some underlying nervousness we’ve seen quite the opposite. People are prepared to buy a premium quality product and pay a premium price for it if they get value.”

However Woolworths marketing boss Luke Dunkerley warned: “The wary customer is wary. The view still is ‘Make it worth my while’.”

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