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Australians are expected to spend more than $2 billion a day in the final dash to Christmas, with a sharp increase in online sales tipped to deliver retailers a $20.5 billion boom in the next 10 days.
The National Retail Association says this represents a 5 per cent increase in sales from a year ago, with food and household goods set to take the lion’s share of the spending spree, followed by cafes, restaurants and takeaway food.
Online sales continue to show no sign of slowing down with the ARA forecasting sales to hit $2 billion – up 18 per cent from a year ago and accounting for 10 per cent of the total retail spend from now until Christmas.
“The NRA is expecting the shopping frenzy to really ramp up as we kick-off the 10-day Christmas countdown,” says NRA CEO Dominique Lamb.
“Although there is a growing trend that sees consumers knocking off Christmas shopping earlier than in previous years, the final 10 days is still a frantic time for retailers across the country.
“Delivery delays mean that fewer people will risk making online purchases over the coming days and head instore to get their hands on last-minute purchases.
“This is particularly beneficial to retailers in CBD locations, who have had to battle steep drops in foot traffic right throughout the pandemic.”
The last-minute rush is expected to be more pronounced in Queensland and Western Australia where sales are set to be up 6 per cent compared to this time last year.
NSW and the ACT will be up 5 per cent, while Victoria, South Australia and Tasmania will be up 4 per cent and Northern Territory 3 per cent.
The NRA forecasts Australians will spend a total of $60 billion during the full Christmas trading period, which stretches from mid-November to the end of December.
Meanwhile, the NRA has issued a reminder to consumers to show some patience with retail staff this time of year.
“It is the busiest time of year for retailers, with many working at capacity, so please keep the Christmas spirit in mind and treat them with patience,” says Lamb.
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