Shoppers are expected to spend $16.1 billion during post-Christmas sales from Boxing Day through to January 15.
New research released by the Australian Retailers Association (ARA) and Roy Morgan reveals the figure of $16.1 billion represents an estimated year on year growth of 3.6 percent.
ARA executive director Russell Zimmerman said last year’s post-Christmas predicted sale figure ($15.1 billion) was confirmed only slightly higher at $15.5 billion.
“Previous ARA/Roy Morgan Christmas research has been almost spot-on every time, meaning retailers can be quite confident that this Christmas will be a merry one.
“Looking at the actual post-Christmas sales figures for 2013 and this year’s post Christmas predictions, the hospitality sector shows the highest level of growth at 6.7 percent.
“Household goods (4 percent) and food (3.6 percent) categories are also set to experience a small but significant jump in post-Christmas sales, indicating that gift buying will be replaced by shoppers splurging on household items for themselves as well as dining out.
“It’s fantastic to see that all states and territories are predicted to experience positive growth post-Christmas, ranging from 1.2 percent (ACT) to 4.2 percent (NSW).
“As we know, the festive sales period doesn’t just continue in the stores; there are also many shoppers who will be enjoying the sales from their living rooms. Some retailers are expected to start their Boxing Day sales as early as Christmas Eve.
“After what has been a very tough year in business, the ARA is confident that the retail industry will enjoy a well-deserved boost in sales this Christmas and we hope this positive trend will continue into 2015,” Zimmerman said.
