Opinion: Leveraging the 'staycation' effect

'It's no secret that consumers' spending habits change during tough times. 

To succeed, it's essential to know what kinds of products maintain their appeal and understand the new buying habits of consumers.

Research released by Synovate found that two thirds of Australians have been forced to cut spending in the past six months.

People are re-assessing where they spend their entertainment dollars.

A trend that's really become popular this year is the 'staycation'.

This is where people invest in products to make their home a nest of comfort in tough times - a stay at home vacation.

It's all about spending hard-earned relaxation time at home to save money, so it makes sense to buy products that make for a fun day or night in. 

Australian retailers have a huge opportunity to leverage the staycation trend to sell interactive entertainment products.