Australian retailers are set to cash in $8.7 billion in total this week – but which states are expected to make more and in which category? Find out here.
The Australian National Retailers Association (ANRA) Christmas Retail Index has predicted that Christmas shopping will intensify this week as shoppers finalise Christmas preparations.
Bricks-and-mortar stores are expected to come out on top, with outlets around the nation predicted to rake in approximately $7,826.9 million, while online and omni-channel are expected to realise approximately $889.7 million.
However, ANRA CEO Margy Osmond revealed that according to figures, New South Wales will again be making the biggest contribution to the sales lift this week – up 21 per cent since last week.
“Retailers will be bracing themselves for a Christmas shopping frenzy over the next seven days where sales are expected to surge more than $1.65 billion since last week to $8.7 billion – up 23 per cent.
“In-store the tills will be ringing around the clock with spending expected to soar to $7.8 billion – up 23 per cent from last week’s spending in bricks and mortar stores.
“About $900 million will be spent locally online – dropping 40 per cent since last week. We would expect a bulk of online shopping to be completed now with shoppers crossing their fingers their online purchases are delivered in time,” Osmond said.
“In New South Wales retailers can expect $459m more through the cash registers than last week, with estimated spend across the state reaching $2.6 billion. Queenslanders will also lift their spending to $2.05 billion - up $562 million from last week.
“Individually we will part with about $377 per person this week as we wrap up the last full week of shopping. Of this, $338 is expected to be spent in bricks and mortar stores. There will be little left to spread to online retailers as shoppers err on the side of delivery caution.
“West Australians will be the biggest individual spenders this week - where last minute shoppers in the west are expected to spend around $483 each. “
Osmond added that ACT residents have projected themselves as the more organised of all the states and territories will spend less this week compared to last week - down from $129 million to $73 million - after having their biggest spending surge last week.
Gen Y, however, is the polar opposite, with this demographical sector pinned as last minute Christmas shoppers by the study and expected to take advantage of the extended trading hours in droves this week.
“Almost 35 per cent of Gen Y shoppers told us they would be doing their shopping between December 14 and Christmas Eve. For those anticipating a gift from a young Australian shopper, you will probably receive a Department-store bought gift – 34 per cent of Gen Y shop there,” Osmond said.
Want more detail on exactly where Australians' Christmas cash is going in retail? Click here for a detailed table from the Australian National Retailers Association (ANRA) Christmas Retail Index.
