Harvey Norman announced this week that they would be releasing weekly sales figures as an indicator of the state of the economy.
I think this is an extremely arrogant and naive approach to helping Australian's deal with the economic situation. Harvey Norman are clearly failing to recognise that consumers looking for the best prices in the current financial climate are moving to online stories in huge numbers.
I know Gerry Harvey's business has been painfully slow in moving online, no doubt through fear of cannibalising their retail sales model, but they surely can't think their stores are an indicator of the state of the economy!
What do you think? Should individual retailers -- not matter how large they are -- be presuming their sales can help gauge the success or failure of the Australian economy?
