Australian retailers predict $43 billion to be spent before Christmas
A shopping frenzy is predicted in the pre-Christmas trading period, with Australians expected to part with a whopping $43 billion.
The National Retail Association analysis released today forecasts sales to Christmas Eve to be 5 per cent higher than last year's $40.7 billion.
Chief executive Trevor Evans said it appeared to be back to business as usual after several sluggish years of growth.
About $7.3 billion is forecast to be spent on household goods, an increase of 5 per cent on last year and some $3.8 billion would be racked up on apparel, which represents an 8 per cent rise.
Cafes, restaurants and takeaways will also reap the benefit of the silly season, with a projected 11 per cent increase on this time last year.
Electronics, footwear and fashion accessories are expected to be pulled down in total dollar terms due largely to discounting in these categories.
Sales figures for newspapers, books and magazines are also projected to decline
People in NSW are expected to be the biggest spenders, followed by Tasmania and Victoria.
The average shopper will spend about $1,800.
Mr Evans said the strong performance will round out depressed trading figures in the earlier half of the year.
"There's a great sense of optimism, they're in for a robust and prosperous season," he said.
"Many retailers rely on strong Christmas and post-Christmas sales performances to see them, and their staff, through the quieter times."
