With next Sunday bookending the final pre-Christmas spending splurge, Australia’s retailers are bracing for the last-minute rush. At Chadstone in Melbourne, Australia’s biggest shopping centre, over half a million shoppers are expected to visit the nation’s “Fashion Capital” by COB on the 24th.
The National Retail Association (NRA) are predicting that Aussies will fork out $21.5 billion in the final cash splash. This is a 3.9 per cent increase on last year’s spend, as shoppers grab gifts and decor, as well as ordering fresh food for the big day, said Lindsay Carroll, interim CEO of the NRA.
“Spending will largely be in-store as many of the online delivery cut-off dates have already passed, but this is great news for our bricks-and-mortar retailers, many of whom are still recovering from less foot traffic during the pandemic”.
Carroll notes that Australians started their Christmas shopping earlier this year. “People have been shopping more often, but with smaller purchases, so it’s no surprise retailers will be run off their feet in the final days.”
The NRA forecast for the Christmas trade period – the six weeks from mid-November to the end of December – was $60.6 billion. A more cautious prediction than the Australian Retailers Association’s record-breaking estimate of $66 billion.
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