Shoppers up the ante this weekend

 

shopping center, escalatorsThousands of last minute shoppers are expected to be out this weekend as they look to finalise their Christmas preparations in the last days before Christmas, according to the latest spending projections released by the Australian National Retailers’ Association (ANRA).

The ANRA has forecast almost $2.9 billion is expected to be spent this weekend, with the average family estimated to spend around $365 on finalising Christmas preparations.

Anna McPhee, CEO of ANRA, said retailers expect this weekend to be one of the busiest of the year and with extended trading shoppers will have additional time to complete their preparations.

“As Christmas closes in retailers will be encouraged by the sector’s performance in 2014. Since September 2013 retail turnover has continued to grow and a recent series of solid outcomes is helping drive the sector towards the long term average annual growth rate of six per cent – a positive sign for the economy,” McPhee said.

“As the Federal Government’s focus shifts to domestic growth, the retail sector will have a critical role to play in contributing to employment, wages, investment and economic growth in the future.

ANRA’s survey of Christmas shoppers suggests more men than women will undertake most of their Christmas shopping in the final days before Christmas (7.3 per cent vs 3.5 per cent).

“The anticipated weekend spending projections suggest the number of last minute shoppers will be more evenly split amongst men and women, as consumers shop for items on their gift lists,” McPhee said.

A hive of activity will be seen across all retail formats and shopping precincts, with the survey revealing consumers will primarily be shopping in general merchandise, 35 per cent; department stores, 24 per cent; and specialty and small retailers, 12 per cent.

According to ANRA’s Christmas spending projections, more than $32.6 billion is estimated to be spent on gifts, household goods, food, liquor, and dining in the 30 days to Christmas.

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