Shoppers to splurge $2 billion on Boxing Day

IT’S been a good Christmas for Aussie shops. They’re expecting more than $2 billion to ring through the tills around the country on Boxing Day.

QLD_SM_SANTA_8NOV14

AUSTRALIAN shoppers will splurge more than $2 billion on retail therapy if Boxing Day sale predictions pan out.

Retailers expect shops around the country will take in more than $16 billion over the next three weeks, including a $2.072 billion boon on Boxing Day alone.

If so, it would be the first time Australian shoppers have spent more than $2 billion in a single day.

Victorian consumers will lead the post-Christmas shopping binge according to the Australian Retailers Association, spending about $682 million on Boxing Day while NSW is expected to fork out $584 million.

ARA executive director Russell Zimmerman slammed “ludicrous” retail regulations in NSW preventing shops outside the city’s CBD from opening their doors early on Boxing Day.

“NSW is Australia’s most populous state, and yet Victoria easily takes the cake when it comes to expected Boxing Day sales,” Mr Zimmerman said on Thursday.

“This equals a $98 million loss of trade to NSW retailers, with absurd and outdated trading restrictions largely to blame.” “Consumers can buy online 24/7 but many bricks and mortar stores are still unable to open on, what is for many, the largest trading day of the year.” Australian shoppers aged 14 or older will spend an average of $850 each between Boxing Day and January 15.

Shopping centres are opening their doors earlier on Boxing Day to accommodate the influx of shoppers, with David Jones stores in Sydney and Melbourne CBDs opening at 5am.