This week’s sales predictions

trolley, christmas

Christmas spending is expected to provide a welcome boost to the economy this week as more shoppers turn their thoughts to preparations for Christmas Day, according to weekly Christmas spending projections released by the Australian National Retailers’ Association (ANRA).

ANRA CEO, Anna McPhee said that nationally more than $7.1 billion in total retail sales is expected to be generated this week, with the average family expected to spend $905 as shoppers.

“Two thirds of this week’s spending is expected to be spent at bricks and mortar stores, cafes, and restaurants ($5.6 billion) while consumers are likely to spend about $1.5 million online,” said McPhee.

A survey of Christmas shoppers conducted by ANRA suggests almost one in five consumers will shop online to make a range of purchases this Christmas.

“Around 60 per cent of online Christmas shoppers indicated they would make purchases at a mix of Australian and international retail sites. Shoppers cited convenience, price, and variety as the main reasons they favour Christmas shopping with a click,” McPhee said.

“Retailers have prepared for the Christmas rush by creating more than 39,000 additional jobs, as well as providing extra hours to existing retail workers in preparation for additional seasonal spending.

“We expect shoppers to take advantage of extended trading hours in the coming weeks as the shopping rush builds. Additional jobs and shifts will help retailers ensure customers are able to fulfil heir Christmas shopping needs.

“Retail trade figures for October released on Thursday will provide a solid indication of the sector’s 2014 performance.

The ANRA Christmas spending projections suggest the retail sector is in a slightly stronger position compared to last year and is on target to contribute a little more than four per cent to Australia’s GDP.”

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