Catch Of The Day

Reporter: Georgia Main

The government is dealing with a country in economic meltdown, but for bulk retailer Gabby Leibovich, the R-word doesn't exist.

"It's quite regular we sell out of a product within three hours. To give you some examples we've sold laptops within an hour up to 1100 a day; hard drives 2200 a day; toys we can sell quantities of 5-6000 a day; TV's 1000 a day", Gabby said.

It seems low interest rates and the Federal Government's $10 billion stimulus is doing exactly what it was designed to do.

Gabby's Catch Of The Day site promises top brands at the lowest prices. He took on the challenge to see how much stock he could sell in just one day. "During a period of 24 hours we've sold $1.4 million worth of goods. Believe it or not in one hour we sold 1 million dollars", he said.

The monster sale cleared a warehouse of 550 TV's; 150 hard drives; 50 cordless phones; 80 vacuum cleaners; 30 Toshiba laptops and 30 GPS units. Business is so good, Gabby is hiring more staff. "Thousands of parcels leave this building every day -- we normally ship out about three semi trailer loads of goods to customers all around the country. We have about 100,000 customers visiting us every day -- that's an MCG full of customers in a single day", Gabby said.

It's a non stop sale. "Today's Catch is Parker pens with free shipping. The sale has been going on for 1 hour and we've already sold over 1,000 pens", Gabby said.

With 250,000 registered website members in just over two years, the business is in BRW's Fastest Growing 100 companies. "We are not experiencing the recession at all. In fact, the recession is working in our favour to be honest. More and more suppliers are stuck with goods and we provide a great solution for them in order to get rid of their excess stock", Gabby said.

While retailers had braced themselves for a sale slowdown, Myer's Mitch Catlin says it is now spend, spend, spend. Shoppers have been spending, even before they've got the stimulus money in the bank. "It's been largely led by our female shoppers spending a fair bit on cosmetics, perfumes and women's fashions, accessories, shoes and handbags. Even the men are dipping into their pockets because menswear is doing really well", Mitch said.

And here's the proof -- in March alone, consumers spent a record $19.3 billion dollars -- up 40-million from the previous month. No sign of the recession there.

New South Wales shoppers worked the cash registers the hardest, spending $5.9 billion dollars. Victorians spent $4.8 billion dollars and Queensland shoppers spent nearly $4 billion. "They're cashed up, they're coming back without guilt and they're getting some really good specials at the moment", said Richard Evans from the Australian Retailers Association.

"What the Australian economy needs is cash flowing through the entire economy, retailing is the cash hub", he added.

For more information on Gabby's Catch of the Day, visit the website at: