ARA: Christmas spend to top $50 billion

christmas, tree, airportAussie consumers will spend over $50 billion during the upcoming Christmas trading period from November 15 to December 24, according to the annual pre-Christmas sales predictions from The Australian Retailers Association (ARA) and Roy Morgan Research.

ARA and Roy Morgan have tipped Australian consumers to spend 2.8 per cent more on Christmas this year, compared to 2016. The figure is in contrast to last week’s prediction by the National Retailers Association who said spending will hit $48 billion.

“While the latest retail trade figures have shown a considerable decline, our combined Christmas sales forecast with Roy Morgan demonstrate that Christmas sales will be a little bit better than recent figures,” said Russell Zimmerman, ARA executive director,

“Unfortunately this estimate is still well below the 4-5 per cent growth that retailers would like to see this Christmas,” Zimmerman said.

“As online retailing continues to grow, we predict online gift purchases to increase by 3.96 per cent, and expect Australian shoppers to purchase most of their gifts online this year.”

Food and liquor retailers will also see a substantial trade this Christmas with the ARA and Roy Morgan predicting a 3.27 per cent increase from 2016 sales.

ARA-Roy-Morgan-predictionsRestaurant and cafe retailers are also tipped to see an increase in sales this year as the hospitality category is expected to grow by a modest 2.89 per cent.

“Although we have seen retail sales slowly decline across all categories, we believe Christmas will see this year’s trade improve for many Australian retailers,” Zimmerman said.

“There may have been a lot of change throughout the industry this year, but one thing is for sure, and that’s the fact that Australian’s love Christmas, as Christmas is the season of giving.”

Access exclusive analysis, locked news and reports with Inside Retail Weekly. Subscribe today and get our premium print publication delivered to your door every week.

Comments

Comment Manually

I have read and agree to the Terms and Conditions and Privacy Policy.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Inside Retail Polls

How have private-label products impacted your business?
Vote

Twitter

The shock @LiberalAus victory over the weekend could be good news for Australia's retail industry #retail #auspol https://t.co/qFvHayoF2Q

4 days ago

A new initiative, announced by @google at #CopenhagenFashionSummit,will help to understand the environmental impact… https://t.co/VmLrRHHp3p

1 week ago

Rising competition and crude oil prices have impacted @CaltexAustralia net profits in the first quarter of 2019… https://t.co/OE4VaIIReR

2 weeks ago
x

SUBSCRIBE
FREE NEWS BRIEFS Get breaking news delivered