Stockland’s study is in line with data released by the Australian Retailers Association and Roy Morgan earlier this week, predicting consumers will spend $45 billion from November 15 to December 24.
The Stockland survey of more than 1000 Australians found that almost three quarters of Australians will quick to hit the shops this year, with 55 per cent of people starting their Christmas shopping in October and 22 per cent ready to shop in November.
Last minute shoppers still account for 38 per cent of the population who put off their shopping and make a late, last minute dash to the shops in December.
John Schroder, CEO commercial property at Stockland, said there is a noticeable shift in the way people do their shopping, with many people preferring to make multiple trips to the shops rather than putting all their presents in one basket during one big shopping expedition.
More than half of survey respondents said they’ve set a strict shopping budget for Christmas this year.
The majority expect to spend between $500 to $1000 on their Christmas shopping, while nearly one third of respondents believe it’s the thought that counts, setting their budget below $500.
The final 29 per cent of respondents were the big spenders, expecting to spend between $1000 to $5,000.