Invest
Festive shopping expected to be bigger and earlier than ever
Australians are set to spend $60 billion at retailers across the country.
Festive shopping expected to be bigger and earlier than ever
The pre-Christmas shopping season is kicking off earlier than ever before as shoppers prepare to buy more after long periods of lockdowns and lower spending.
The National Retail Association (NRA) has estimated that $60 billion will be spent this festive season, 8 per cent more than the $55.4 billion spent last year.
While online shopping will continue to boom with a forecast 51 per cent increase to $8.2 billion, a Citi survey has found that 40 per cent of Australians will return to in-store shopping this year.
“It’s great to see such strong consumer sentiment and appetite to get back into stores,” said Citi Australia head of cards and loans Choong Yu Lum.
“It has been a tough few years for Australian retailers, but consumers are clearly signalling they are keen to get back to our shopping centres and make this Christmas extra special.”
According to Citi, one in four shoppers are planning to spend more on themselves and others this year, with 45 per cent planning to spend $300 on gifts and 32 per cent aiming for $100-$200.
Forty per cent said they are more likely to shop earlier than usual this year and 72 per cent expect to spend big during the November sales, including Black Friday and Cyber Monday.
Shipping and postal delays were also a cause for concern for 40 per cent of shoppers.
NRA CEO Dominique Lamb has encouraged Australians to support their local retailers in the lead up to Christmas.
“A silver lining to lockdowns is that when restrictions are lifted, it does result in strong consumer spending from pent up demand,” she said.
“As horrible as 2021 has been for retailers who have been in prolonged lockdown, at least they’ll be open in time to cash in on Christmas.”
The NRA expects NSW will lead the states in pre-Christmas spending with $19 billion, followed by $15.5 billion in Victoria and $12.4 billion in Queensland.
“Even prior to the pandemic, there was a growing trend of shoppers knocking off Christmas purchases earlier than traditionally was the case,” said Ms Lamb.
“Our number one message to Australians this Christmas is to get in early to ensure you get your preferred items under the festive tree in 2021.”
Spending
Aussies splash record cash for Black Friday and Cyber Monday
More than $8 billion was spent between the two shopping holidays, according to NAB estimates. ...Read more
Spending
Aussies’ spending on subscription rises, but will it stick?
Aussies carved out a greater slice of their spending budgets when it came to streaming services during the pandemic. ...Read more
Spending
Qantas announces $2.3bn loss but plans to be flying again by Christmas
Australia’s national carrier has revealed the devastating impacts border closures have had on the company, while noting a possible return date to international operations in its full-year market upd...Read more
Spending
Will your frequent flyer status be impacted by COVID?
In the latest bid to kick-start the travel industry post-lockdowns, Australia’s largest airline has announced that it is rewarding its frequent flyers by extending their status. ...Read more
Spending
‘Technology, not taxes’: Why not both?
The government has joined the rest of the world in looking to offset carbon emissions, albeit through technology, not taxes, despite the possibility that positive taxes and incentives could potentiall...Read more
Spending
Social media spending balloons to $118bn
Australians are spending a whopping $118 billion on discretionary items through social media and apps, fresh figures have revealed. ...Read more
Spending
Why payphones are set to become free
Australians will now be able to make free calls from any Telstra payphone under a new initiative aimed at helping those who are in need, Telstra’s CEO has revealed. ...Read more
Spending
7 surprisingly simple ways to save money and help the environment
The rising costs of living is providing consumers with a rare win-win scenario by saving money and helping the environment. ...Read more
What Omicron means for property, and are units right for first-time buyers? What is equity crowdfunding? Are industry super funds tapping into member funds to save their skins?
Listen now
Will housing affordability improve in 2022? Will buy now, pay later become the norm? Why are Aussies staying in failing super products?
Listen now
Who really benefits from crypto ETFs? How will the RBA respond to rising inflation? Could a mandate help address unpaid super?
Listen now
How the post-lockdown period will influence property, what the soaring NFT market means, and defining financial wellness
Listen now
Spending
Aussies splash record cash for Black Friday and Cyber Monday
More than $8 billion was spent between the two shopping holidays, according to NAB estimates. ...Read more
Spending
Aussies’ spending on subscription rises, but will it stick?
Aussies carved out a greater slice of their spending budgets when it came to streaming services during the pandemic. ...Read more
Spending
Qantas announces $2.3bn loss but plans to be flying again by Christmas
Australia’s national carrier has revealed the devastating impacts border closures have had on the company, while noting a possible return date to international operations in its full-year market upd...Read more
Spending
Will your frequent flyer status be impacted by COVID?
In the latest bid to kick-start the travel industry post-lockdowns, Australia’s largest airline has announced that it is rewarding its frequent flyers by extending their status. ...Read more
Spending
‘Technology, not taxes’: Why not both?
The government has joined the rest of the world in looking to offset carbon emissions, albeit through technology, not taxes, despite the possibility that positive taxes and incentives could potentiall...Read more
Spending
Social media spending balloons to $118bn
Australians are spending a whopping $118 billion on discretionary items through social media and apps, fresh figures have revealed. ...Read more
Spending
Why payphones are set to become free
Australians will now be able to make free calls from any Telstra payphone under a new initiative aimed at helping those who are in need, Telstra’s CEO has revealed. ...Read more
Spending
7 surprisingly simple ways to save money and help the environment
The rising costs of living is providing consumers with a rare win-win scenario by saving money and helping the environment. ...Read more
More articles
Website Notifications
Get notifications in real-time for staying up to date with content that matters to you.
