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Posted by: Sportslink on 11/14/2017

Festive spending: 'we’ll do $50billion'

Festive spending: 'we’ll do $50billion'

The annual ARA and Roy Morgan Research prediction on Christmas shopping says Australian shoppers will spend $50 billion over the trading period from November 15 to December 24.

Australian Retailers Association Executive Director, Russell Zimmerman, says although the Australian retail industry has been struggling over the past few months, the ARA and Roy Morgan have tipped Australian consumers to spend 2.8 percent more on Christmas this year, compared to 2016.

“While the latest retail trade figures have shown a considerable decline, our combined Christmas sales forecast demonstrates that Christmas sales will be a little bit better than recent figures; unfortunately this estimate is still well below the four to five percent growth that retailers would like to see this Christmas,” he says.

“As online retailing continues to grow, we predict online gift purchases to increase by 3.96 percent, and expect Australian shoppers to purchase most of their gifts online this year.”