Monday’s disappointing fall in sales has not dampened retail sales expectations for Christmas, with The Christmas Gift Buying Survey by the Australian Retailers Association (ARA) in collaboration with Roy Morgan finding most Aussies (59%) claim they will spend the same or more (12%) than last year despite growing inflationary pressures.
ARA holiday sales predictions with Roy Morgan show Australians will spend nearly $64 billion in the lead up to Christmas, up 3% on last year, with alcohol and food topping the list of intended gift purchases for this year, followed by vouchers gifts and cards, toys, jigsaws and boardgames.
Hospitality businesses are also set to cash-in in the lead up to Christmas, with over $9 billion in trade predicted – up 16.3% on 2021.
The full text of this article is available to MacroBusiness subscribers
