Christmas exceeds forecasts

money, jar, dollar, finance, savingsAccording to The Australian Retailers Association (ARA) and Roy Morgan Research, Australian shoppers spent a whopping $45.2 billion in retail stores between 15 November and 24 December 2014.

The figure is slightly above the ARA’s forecast of $45 billion last November.

ARA executive director, Russell Zimmerman, said the positive result was an extremely encouraging sign for the retail industry.

“We are pleased to see that the ARA’s predicted figure of $45 billion was exceeded, despite reports of shoppers cutting it close to December 25 to complete their Christmas shopping,” Zimmerman said.

“The retail industry can now enjoy a heightened sense of confidence leading into 2015 knowing that shoppers spent a significant $45.2 billion in the lead up to Christmas last year.

“The festive period can be an extremely stressful time for business owners and I’m sure they will all be relieved to know that Christmas 2014 has indeed been one of the most successful to date.

“The ARA looks forward to confirming the actual post-Christmas spend (26 December 2014 to 15 January 2015) in the next month or so,” he said.

Screen Shot 2015-02-20 at 10.37.14 am

You have 7 articles remaining. Unlock 15 free articles a month, it’s free.