Retailers set for $17bn spending spree
The National Retail Association (NRA) has forecast a $17bn spending spree by Australian consumers in the final 10 days before Christmas.
The spending spree will come as shoppers carry out their last minute Christmas shopping and stock up on the festive food and drinks for Christmas Day celebrations.
“In the final 10 days before Christmas the NRA projects shoppers across Australia to splash $17.8bn in cash as they finalise Christmas purchases,” NRA CEO Dominique Lamb said.
“The days leading up to Christmas are incredibly busy ones for all parts of the retail sector, with shoppers descending on stores for everything from purchasing last-minute presents to picking out what to eat with the family on Christmas Day itself.
“More than one-third of sales during the Christmas trade period will occur in the final ten days before Santa rides his sleigh into town, so you can expect to see retail stores across the country packed to the rafters with shoppers.”
The NRA has forecast Australians to spend a total of $50bn throughout the Christmas trade period, which encompasses half of November and all of December.
STATE 2018 10-day countdown forecast (Dec 15-24)
- NSW $5.8bn
- VIC $4.7bn
- QLD $3.4bn
- SA $1.2bn
- WA $1.9bn
- TAS $351m
- NT $149m
- ACT $318m
- TOTAL $17.8bn
The association also predicted significant online spend over the next 10 days:
ONLINE SALES 2018 10-day countdown forecast (Dec 15-24)
- Pure-play Online $387m
- Multi-Channel Online $683m
- TOTAL $1.07bn
Lamb also called on consumers to remember to be “patient and polite towards staff” at the busiest time of the year, echoing the calls of the retail workers union, SDA.