Australia’s pre-Christmas spending splurge has defied all expectations, reaching a record-breaking $74.5 billion – up 8.6 per cent on last year – according to exclusive data by Australian Retailers Association’s (ARA) partnership with Westpac DataX.
Australian retail sales are set to remain strong following the festive trading period, with consumers predicted to spend a record $23.5 billion during the Boxing Day sales– an increase of 7.9% over last year – according to forecasts released today by the Australian Retailers Association (ARA) in collaboration with strategic partners Roy Morgan and Salesforce.
Australia’s peak retail body, the Australian Retailers Association (ARA) and the Shop, Distributive and Allied Employees Association (SDA) are pleading for civility and mutual respect amid a spike in customer aggression throughout the frenetic Christmas shopping period.
Australian retail sales increased 5% in November compared to the same time last year, according to the latest Mastercard SpendingPulse™, which measures in-store and online retail sales across all forms of payment.
Most retail categories continued to record significant year on year sales growth as we cycle the impact of the 2021 Omicron wave. Lodging recorded the biggest increase in trade in November, up 21% compared to 12 months prior, followed by Grocery (up 10.3%), Restaurants (up 8.9%), Apparel (up 8.6%), Fuel and Convenience (up 4.8%) and Electronics (up 2.6%). There were year-on-year falls for Home Furnishings (down 4.1%) and Jewellery (down 1.2%) off an elevated level of sales in the previous year due to the pandemic.
With only 12 shopping days to go until Christmas, retailers are encouraging Aussies to plan their final shopping items this week to avoid last-minute stress and disappointment.
Australia’s largest national retail body the Australian Retailers Association (ARA) has bumped up its pre-Christmas spending forecasts by another two billion, now predicting a record $66 billion will be spent in the November to December Christmas trading period.
Christmas is the busiest time of year on the retail calendar. During the peak season, exorbitant pressure is put on retail businesses and their staff to plan for a significant increase in sales.
“Christmas is the most critical time of year on the retail calendar, and despite rising interest rates, inflationary concerns and staff shortages, businesses are looking to the festive trading period
It’s beginning to look a lot like last Christmas – with most Aussies (59%) claiming they will spend the same or more (12%) than last year despite growing inflationary pressures,
The Black Friday sales are set to provide retailers with strong results in the lead up to Christmas with research from the Australian Retailers Association in collaboration with Roy Morgan
