Peak retail industry body the Australian Retailers Association (ARA) and research partner Roy Morgan Research said their pre-Christmas retail sales forecast of $45 billion has not only been met but exceeded.
Australian shoppers spent a whopping $45.2 billion in retail stores from 15 November – 24 December 2014.
ARA Executive Director Russell Zimmerman said the positive result (confirmed by ABS data) was an extremely encouraging sign for the retail industry.
“We are pleased to see that the ARA’s predicted figure of $45 billion was exceeded, despite reports of shoppers cutting it close to December 25th to complete their Christmas shopping.
“The ARA has proudly partnered with Roy Morgan Research to deliver extremely accurate retail spend forecasts for a number of years now. In 2013 the ARA forecasted $42.2 billion would go through retail tills during the pre-Christmas trading period and this figure was later confirmed at an actual pre-Christmas spend of $43 billion. It’s encouraging to see our 2014 pre-Christmas figures were almost bang-on again.
“The retail industry can now enjoy a heightened sense of confidence leading into 2015 knowing that shoppers spent a significant $45.2 billion in the lead up to Christmas last year. The festive period can be an extremely stressful time for business owners and I’m sure they will all be relieved to know that Christmas 2014 has indeed been one of the most successful to date.
“The ARA looks forward to confirming the actual post-Christmas spend (26 December 2014 – 15 January 2015) in the next month or so,” Mr Zimmerman said.
Since 1903, the Australian Retailers Association (ARA) has been the peak industry body representing Australia’s $265 billion retail sector, which employs over 1.2 million people. The ARA ensures retail success by informing, protecting, advocating, educating and saving money for its 5,000 independent and national retail members throughout Australia. Visit www.retail.org.au or call 1300 368 041
-ends- For interview opportunities with ARA Executive Director Russell Zimmerman call the ARA Media Line T: 0439 612 556 or E: firstname.lastname@example.org
ARA/Roy Morgan pre-Christmas figures 2014 – predicted and actual spend
|State||Pre-Christmas Forecast ($Bil)||ABS Actual ($Bil)|
|Category||Pre-Christmas Forecast ($Bil)||ABS Actual ($Bil)|