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After spending record amounts on Black Friday and Cyber Monday sales, Australians are expected to spend an additional $ 21 billion (US $ 15 billion) nationwide after Christmas.
Australian Retailers Association and Roy Morgan weather, It claims that Australians back this up with a strong trading period between Boxing Day and January 15. If realized, it will increase by 2.1% from 2019 before the pandemic and by 12.6% from 2019.
“After the blockade of Delta, a lot of tired demand for shopping continues,” said Paul Zahra, CEO of ARA. “We experienced a record Black Friday with higher-than-expected sales, which gave the company strong momentum during this important trading period.”
Michele Levine, CEO of Roy Morgan, said Australians saved a lot of money as a result of blockades and other restrictions hindering their ability to spend.
“While there are still uncertainties about travel conditions for the coming months, deregulation across the country will give retailers the opportunity to maximize profits and reach record retail periods in the summer. I will provide, “she said. ..
ARA initially predicted that Australians would spend $ 5.4 billion on Black Friday weekend sales. National Australia Bank (NAB) Estimated Its actual spending reached about $ 8 billion, breaking expectations.
“Boxing Day sales are an important event on the retail calendar, and we look forward to the bumper trading period as the states and territories continue to work on reopening plans,” Zahra said.
However, he warned that there remain challenges with staff shortages and ongoing supply chain issues, which could affect retailers’ ability to accelerate their financial recovery.
“We are working closely with the government to ensure that the barriers to recovery are resolved as quickly as possible,” Zara said.
The biggest surge in post-Christmas spending is expected to be 10.7%, or $ 2.9 billion, higher than last year in the hospitality industry. Clothing, shoes and accessories are also expected to recover significantly, up 6.9%.
“We’ve talked a lot about pivoting to digital, but it’s clear that the foundations that companies have laid over the last two years are well-positioned to take advantage of these sales events,” NAB said. Group executive Andrew Irvine said.
“But for many of us, there’s nothing better than the actual experience of being able to step into a store and try a product directly.”
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Rebecca Zhu is an Australian reporter based in Sydney. She focuses on Australia’s economy, property and education. Contact her at [email protected].
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