SALES SPIKE CONTINUES

SALES SPIKE CONTINUES
A SPENDING frenzy will continue well into the new year according to new figures released by the Australian Retailers Association (ARA) and Roy Morgan Research.

Retailers around the country are on track to take $16.8 billion from Boxing Day until January 15, with $1 billion of this figure coming from department stores.

Big ticket items are being overlooked for soft goods like apparel and footwear, says ARA executive direction Russell Zimmerman.

"Department stores have also had particularly strong foot traffic, with our figures anticipating a 4.7 percent increase for the category compared to last year," says Zimmerman.

Food spending, which was boosted last week by shoppers stocking up on food and beverages for New Year's Eve parties and holiday barbeques is on target to meet an expected $6.8 billion in purchases.

Victoria will see the lion's share of the post-Christmas shopping growth, up 5.6 percent to $4.2 billion across the 21-day period tracked by ARA and Roy Morgan, followed by NSW at 3.8 percent growth and $5.3 billion.

Queensland and South Australia are both expected to grow 3.3 per cent.

Get our daily business news

Sign up to our free email news updates.

 
Unpacking equity: Finding your funding fit
Partner Content
Armed with a growing business and a great opportunity, a business owner’s next challe...
Australian Business Growth Fund
Advertisement

Related Stories

Space Machines Company’s partnership with Orbit Fab blasts into orbit aboard SpaceX Transporter

Space Machines Company’s partnership with Orbit Fab blasts into orbit aboard SpaceX Transporter

The mission by Adelaide-based Space Machines Company to deliver &ls...

Brisbane Korean BBQ icon Maru salvaged by restructuring plan with creditors

Brisbane Korean BBQ icon Maru salvaged by restructuring plan with creditors

A Brisbane Korean barbecue icon will live on to grill another day a...

Gilmour Space receives green light for Australia's first orbital spaceport

Gilmour Space receives green light for Australia's first orbital spaceport

Fresh after raising $55 million in a Series D round led by the...

Consortium seeks to transform Sydney’s Rosehill-Camellia into $25b ‘mini city’

Consortium seeks to transform Sydney’s Rosehill-Camellia into $25b ‘mini city’

A consortium comprising three major property groups and the Austral...