Australians report record $ 21 billion summer buying spree as Boxing Day sales begin | Business
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Record sales are expected on Boxing Day, with shoppers expected to spend more than $ 20 billion during the summer sale period.
The Australian Retailers Association has estimated that people will spend $ 21 billion on post-Christmas sales through mid-January.
Some shoppers are preparing to ignore Covid concerns and visit CBD and major shopping malls. However, online shopping is expected to increase this year.
Australian Retailers Association Managing Director Paul Zahra predicted an online record.
“The big difference this year will be an even higher level in online shopping because some people want to avoid the crowds,” Zahra said. “We always expect crowds, but people will be more organized. There will be less navigation.
Zahra said he expected total sales to exceed last year because people might or might not want to spend their money on overseas travel during the Covid pandemic.
People had also saved money after spending more time at home, he said.
Australians spend around $ 60 billion a year on overseas travel and that money is spent otherwise.
The National Retail Association (NRA) sets national spending on Boxing Day alone at a record $ 2.9 billion.
There will be “increases in every state and territory, with Boxing Day closing a very successful holiday season after a difficult year for many retailers who have struggled with prolonged lockdowns,” said NRA CEO Dominique Lamb.
Spending increases in Queensland and Western Australia are expected to increase by 6% in each state, followed by New South Wales and ACT with 5% each, while Victoria and South Australia are expected to increase. experience growth of 4%.
Online spending is expected to rise 25% from last year’s level to $ 1.2 billion, the NRA said.
Meanwhile, a Commonwealth Bank survey found that 69% of Australians plan to buy something on Boxing Day.
Average planned spending was $ 557, up 14% from last year. Clothing was considered the most popular purchase. Technology, home electronics and appliances were next on the shopping list.
“On Boxing Day alone, from in-store and online sales, we plan to sell over 20,000 sets of sheets, 30,000 table sets, 122,000 napkins, 52,000 T-shirts and 13,000 pairs of jeans, ”said Geoff Ikin, the main customer. Myer’s officer.
Woolworths Group boss Brad Banducci, whose responsibilities include Big W, said this month that some toys and consumer electronics are proving hard to find.
Some foreign manufacturers have struggled to meet demand during the pandemic.
News Today Today Headlines Australians report record $ 21 billion summer buying spree as Boxing Day sales begin | Business