Shoppers splurge on Boxing Day
The Australian Retailers Association (ARA) expects around $2.3 billion went through registers across the country as part of the annual Boxing Day sales event.
Russell Zimmerman, ARA executive director, said retailers across the country were inundated with shoppers, with some keen shoppers forming queues in anticipation of the discounts from very early morning.
“This year’s Boxing Day crowds certainly did not disappoint, and if anything, were larger than previous years,” Zimmerman said.
“Judging from the number of people in stores and our prediction of $2.3 billion in purchases nationally, I think we’ll be looking at a record Boxing Day in 2015 in terms of sales.
“We anticipate this sales momentum will continue for the next two weeks or more, with the ARA and Roy Morgan Research expecting that Australian consumers will make retail purchases to the tune of $16.8 billion from December 26 to January 15,” he said.
On a state basis, Victoria will be the big winner, with year on year growth of 5.6 per cent growth for the period encompassing December 26 to January 15.
“South Australia will have experienced relatively lower sales at $115 million on Boxing Day because of the retail trading ban in metropolitan areas which only allows CBD stores to open,” Zimmerman said.
Categories tipped to enjoy the biggest increases in year on year sales in the next three weeks according the ARA and Roy Morgan will be ‘other’ at 6.1 per cent growth, and ‘department stores’ at 4.3 per cent.
According to the Retail Council survey, Boxing Day sale shoppers indicated they are most likely to buy clothing, homewares and electronics.
“The annual summer clearance sales are expected to be better than previous years with almost $2.3 billion forecast to be spent in NSW in the first week of sales, and $7.25 billion expected to be spent nationally,” said Retail Council CEO, Anna McPhee.
“Momentum in retail activity is expected to continue throughout the post-Christmas sale period with Retail Council spending projections forecasting almost $21 billion to be spent nationally to January 15,” said McPhee.
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