The National Retail Association (NRA) has today released its pre-Christmas projections, suggesting the nation’s spending habits will be akin to having just a few glasses of wine rather than a few bottles on Christmas day, and finishing the evening off with only two servings of pudding, rather than three.
NRA CEO Trevor Evans said that with 50 days until Santa comes to town, consumers across the nation were on track to spend $44.5 billion in the pre-Christmas period – a solid but modest increase of 4.1 per cent on the same period last year, which compared quite sensibly with the ten-year average or 4.2 per cent.
“Every state and territory in Australia will enjoy an increase in spending on the same period last year, so retailers across the nation are on track for a prosperous season that should help carry most through the traditionally quieter parts of the year”.
“But they will have the added benefit of heading into 2016 knowing that the nation is finally returning to a period of more consistent and dependable shopping habits,” Mr Evans said.
The official pre-Christmas trade period encompasses the last two weeks of November through to Christmas Eve.
“Retailers are set to finish up the Christmas trading period in a stronger position as they head into a year of unpretentious, but stable, national spending.
“The figures indicate that the retail sector is back to a more sustainable and sensible balance between the dizzying highs, but devastating lows, associated with the late noughties,” he said.
New South Wales consumers are set to spend around $14.2 billion (three per cent more than in 2014).
Queenslanders will spend six per cent more than during the same period as last year at $9.0 billion; and West Australians six per cent more at $5.3 billion.
Victoria and the Northern Territory will enjoy the largest increases at eight percent, as Victoria heads for a spend of around $11.6 billion, and the Northern Territory charges towards the $400 million mark for the first time.
In South Australia, a six per cent increase on last year will translate to around $2.9 billion in spending, with Tasmania up five per cent, at $900 million.
In the ACT, shoppers are on track to shell out $800 million (up three per cent).
“Today’s Christmas forecast is good news for retail businesses and their staff, who can bank on good, solid figures for the most important retail season of the year,” he said.
[ENDS]
The NRA is Australia’s largest and most diverse retail industry organisation, and has been representing the interests of the retail, fast food and broader service sector for almost 100 years.
Trevor Evans is available for interviews. Contact the NRA’s media unit on (07) 3240 0163.
Modest, reliable, sustainable – figures show retailers can bank on sense and sensibility this Christmas
November 05, 2015