The Australian Retailers Association’s annual post-Christmas retail sales forecasts, conducted in conjunction with Roy Morgan, show that Australians are set to spend $21 billion in stores and online from Boxing Day through to January 15. This is an increase of 2.1% on the previous year and up 12.6% on pre-pandemic levels in 2019:
Spending in the hospitality sector is expected to rise by 10.7 per cent to $2.9 billion as Australians enjoy their freedoms over the festive period. Clothing, Footwear and Accessories are in turn forecast to rise by 6.9%, while Victoria is expected to record sales growth of 6.6%:
ARA CEO Paul Zahra said retailers have strong momentum in the lead up to Christmas which is set to continue into the new year: