Record $21 billion to be spent in post-Christmas sales

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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%:

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ARA CEO Paul Zahra said retailers have strong momentum in the lead up to Christmas which is set to continue into the new year:

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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.