Boxing Day sales to push billions
TRADITIONAL Boxing Day sales are expected to push New South Wales post-Christmas retail figures beyond $4.5 billion, according to forecasters.
Up to 60 per cent of Australian shoppers will brave the busy conditions today, an annual Christmas survey from the Australian National Retailers Association (ANRA) and American Express said.
Local outlet Tweed City Shopping Centre can expect an onslaught of bargain-hungry customers when doors open at 8am.
Each person is expected to spend $250, according to the survey, with men’s and women’s clothing the hottest items followed by homeware, electronics and manchester.
Economic modelling by Access Economics for ANRA indicates NSW residents will spend $4.537 billion between Boxing Day and January 15, up on last year’s figure of $4.4 billion.
“This time last year there was cash flowing through the economy from the first stimulus package,” ANRA CEO Margy Osmond said.
“This year Australians are spending their own money at the sales, and while there is higher confidence, there’s still a reluctance to spend big.”
American Express merchant services vice president Geoff Begg said the sales attracted people who were not persistent shoppers but who wanted to save money.
“The Christmas sales period brings out the bargain hunter in all of us,” Mr Begg said.