Record retail spending to finish off 2021

·1-min read

The final week of 2021 will be "make or break" for Australian retailers as customers continue taking advantage of Boxing Day sales.

Budgets will be broken, impulse items will be bought and for many shoppers, bargains will be scored from the comfort of home.

One in three Australians are expected to get involved in the sales frenzy according to research by finance operator PayPal.

In the post-Christmas sales from Boxing Day to mid-January, a record $21.1 billion is set to be spent, the Australian Retailers Association says.

This is up 2.1 per cent on 2020 and 12.6 per cent on 2019, pre-pandemic.

In a statement, CEO Paul Zahra said the appetite for shopping remained strong despite the ongoing COVID threat.

The National Retail Association said a surplus of stock and pressure on storage facilities means big savings for shoppers.

CEO Dominique Lamb told AAP 2021 was the year for amazing sales.

"Retailers are looking to shift as much stock as they can ahead of the New Year and sales will continue on for at least a week," she said.

With online sales booming, click and collect is continuing to be a popular service, Ms Lamb said.

"Supply isn't an issue because of that surplus stock, and with extended hours and click and collect, there are plenty of ways to take advantage of the sales," she said.

"Many retail stores were closed to the two biggest markets of NSW and Victoria for the entire winter because of lockdown, so this is make or break for them."

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