Mid-year sales get underway with Australians set to spend $8.8 billion
Thursday 26 May 2022
Retailers have kick started their mid-year sales campaign and bargain hunters are set to oblige by spending $8.8 billion in stores and online as businesses look to clear out their excess stock.The forecasts from the Australian Retailers Association (ARA) in collaboration with Roy Morgan show that:
6.2 million Australians plan on shopping in the mid-year sales and will spend an average amount of $1,420 each
A large majority (83%) of consumers planning to spend during the mid-year sales say they plan to spend the same or more than they did last year
Of the $8.8 billion that’s forecast to be spent, $3.2 billion will come from NSW, $1.9 billion from Victoria and $1.7 billion from Queensland
Consumers planning to spend during the mid-year sales will be doing an average of 52% of their shopping online
Men will spend at a far greater rate, with average purchases totalling $1,778 compared to $958 for women.
ARA CEO Paul Zahra is encouraging consumers to head into the CBD for their mid-year sales shopping to take advantage of the broadest selection of bargains and support those businesses who continue to be impacted by low levels of foot traffic.
“The mid-year sales are a great opportunity for consumers to pick up a bargain as retailers look to clear out their excess stock. Expect to see prices slashed on a range of items from fashion, shoes and accessories to electronics, bedding and homewares as retailers make room for their new season lines to start the next financial year,” Mr Zahra said.
“With tax time around the corner, savvy consumers will also be on the lookout for work related products which they can then claim from July 1, so we expect products like computers, phones and tablets to be popular purchases.
“It’s also a great opportunity for consumers to make a day of it and head into the city for their mid-year sales shopping. Foot traffic remains well below pre-pandemic levels in our capital cities due to flexible working while tourist numbers will take years to bounce back. Coming into the city and having the full shopping and dining experience will go a long way to boosting the recovery efforts of those businesses.”
**The ARA-Roy Morgan Snap SMS survey was conducted with an Australian-wide cross-section of 2,807 Australians aged 18+ on Friday May 20 - Tuesday May 24, 2022**
Dominic Cuschieri (ARA) 0418 224 072
Wes Lambert (R&CA) 0488 579 888
Lindsay Hermes (TTF) 0418 948 447
About us: The Australian Retailers Association (ARA) is Australia’s oldest, largest and most diverse retail body, representing a $360bn sector which employs 1.3 million Australians. As Australia’s peak retail body, representing more than 100,000 retail shop fronts, the ARA informs, advocates, educates, protects and unifies independent, national and international retail members. To learn more about ARA’s exclusive benefits and more, visit www.retail.org.au