Retail Council Expects Consumers to Spend More This Christmas

Forecasts released by the Retail Council Christmas Spending Index predict consumers will spend $35 billion in the lead up to this Christmas.

“This year’s forecasts indicate retail is in a slightly stronger position to build on last year’s performance and is on target to contribute more than 4.5 per cent to Australia’s GDP”, said Retail Council CEO Anna McPhee.

According to the forecasts, online purchases will play an important part in the retail offering, expected to make up around 16 per cent of total sales over the period.

The Retail Council also conducted a survey that anticipates consumers will do most of their Christmas shopping in the coming weeks, right up to Christmas Eve.

“In the week to Sunday, we are projecting total sales of $5.25 billion as shoppers turn their thoughts to Christmas preparations. Sales are expected to build week on week to 24 December,” Ms. McPhee said.

In terms of employment of the busy period, the index expects an additional 30,000 jobs will be created to help meet increased demand, plus extra hours for existing retail employees. This will be further boosted by the additional Boxing Day trading day recently passed in NSW.

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