Advertisement
The Australian Retailers Association (ARA) has upwardly revised its Christmas sales forecasts by $2 billion.
It now expects a record $66 billion of sales in the November to December Christmas trading period, up 6.4% on last year’s spend.
ARA CEO Paul Zahra said the higher expected sales are driven by price increases as well as stronger food and hospitality spending, as Aussies enjoy their post-pandemic experiences:
The full text of this article is available to MacroBusiness subscribers
Cancel at any time through our billing provider, Stripe
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.
Advertisement