Australians are expected to spend $1.3bn on Boxing Day as they try to make the most of sales
Australians are expected to spend $1.3bn on Boxing Day, with customers expected to splurge on household goods, clothing, and food.
Australians are expected to spend big in a $1.3bn Boxing Day splurge, taking advantage of sales during the cost-of-living crisis.
The size of the shopping spree predicted by the Australian Retailers Association and Roy Morgan represents an increase of 1.8 per cent from last year’s Boxing Day.
A total of $3.7bn is estimated to be spent in the week after Christmas, with Australians trying to make the most of Boxing Day sales.
Shoppers will spend big across the nation, with NSW projected to spend $1.1bn, Victorians $951m, Queenslanders $746m, Western Australians $410m, South Australians $234m, Tasmanians $74m, ACT shoppers will spend $69m, and Northern Territorians $33m.
Household goods, food, and clothing and footwear are expected to be the most common post-Christmas buys.
The ARA’s chief industry affairs officer Fleur Brown said the spend shows that there is still a “healthy appetite” among consumers that might provide confidence for retailers heading into the New Year.
Ms Brown said the cost-of-living crisis has seen consumer behaviour pivot towards events with big savings. “We’ve seen more shoppers shift their attention to sales events including the Black Friday and Cyber Monday activities,” she said.
“Australians love a bargain and are keen to make their dollars go further in the face of challenging economic conditions.
“Whilst many Australians used Black Friday to shop earlier than ever for Christmas gifts, the focus for Boxing Day shopping is typically on a gift for self and grabbing some of those household necessities and larger purchase items that have been on the shopping list this year.”
She warned shoppers to expect big crowds as people get out in the Boxing Day heat.
“Wear comfortable clothing and shoes, bring your reusable bags, don’t forget a bottle of water, and make sure to charge your phone before heading to the shops.
“Above all else, be patient and maintain a positive attitude – retail workers are working hard to ensure a seamless customer service during the peak retail period of the year,” Ms Brown said.
National Retail Association interim chief executive Lindsay Carroll said customers can expect good value in this year’s Boxing Day sales as retailers are conscious of trying to provide strong competition.
“This is one of the most competitive years for retail spending and Australians can expect a genuine bargain and some truly significant discounts,” she said.