News National Australia to spend $29.6 billion over Xmas

Australia to spend $29.6 billion over Xmas

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It’s going to be a merrier Christmas for Australian retailers this year with shoppers expected to spend nearly $30 billion.

According to modelling from Australian National Retailers Association (ANRA), the average shopper will spend $1280 over the festive season.

“We’re going to see something like $29.6 billion spent over the next four weeks in the run up to the big day.” ANRA CEO Margy Osmond said on Sunday.

“We are definitely expecting to see a better Christmas for retailers,” Ms Osmond said.

The positive projection follows five months of increased retail figures gains and is a welcome improvement from compared with previous years.

“Consumers are starting to feel just that little bit better about spending, and we’re starting to see the interest rate start to have an impact,” Ms Osmond said.

Retailers across the country are expected to net $5.8 billion in the last week of November, with $3.3 billion flowing to traditional bricks and mortar businesses and $970 million to domestic online shops.

The ANRA expects internet purchases to grow by 18 per cent to $2.6 billion this Christmas.

But this time of year was traditionally about store fronts rather than online bargains, Ms Osmond said.

“It’s one of the few times of the year when shoppers just want to get out and feel the atmosphere of Christmas.”