Australian retailers are preparing for their best Christmas in five years - just how much will shock you.
The Australian Retailers Association (ARA) predicts shoppers will spend a whopping $45 billion from November 15 to December 24.
This represents a 4.3 percent gain on sales during the same period in 2013 ($43 billion).
The pre-Christmas sales predictions have been prepared by the ARA and research partner Roy Morgan Research.
ARA executive director Russell Zimmerman said fashion sales will soar later in the season.
"Delving further into the ARA/Roy Morgan figures we are expecting the hospitality, food and household goods categories to experience higher levels of growth this Christmas than apparel.
"This comes as no surprise as department stores and clothing, footwear and personal accessories usually rely on last minute Christmas promotions for any significant growth in sales during the festive season.
"Looking at the states and territories, the ARA is pleased that all are expected to see growth of between 1.2 percent (WA) and 6.1 percent (NSW), apart from the ACT which may experience a slight decline in sales of -0.4 per cent.
"This time last year 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.
"The ARA’s forecast was almost bang on, and while concerns remain over consumer confidence and low jobs growth, it’s fairly safe to say the retail industry is optimistic for a cracker Christmas this year."
