The National Retail Association (NRA) has today predicted consumers are on track to drop a hefty $48 billion on festive cheer, during the busiest time of year for the nation’s retailers.
NRA CEO Dominique Lamb said despite sluggish retail spending, Aussie retailers will be run off their feet from next week through to December 31.
“Retailers have been preparing for months, recruiting extra staff who can take care of the extra foot traffic, help indecisive consumers find the right gift, as well as keep those piles of crumpled clothes and muddled up racks under control, all without breaking a sweat!” Ms Lamb said.
“Students in particular love this time of year as they can stock up on as many shifts as possible while they’re not in semester, and we’re seeing a great deal of workers choosing to maximise their earning capacity now to fund travel through the year,” she said.
The NRA said other services like Australia Post’s Shipster offering, was indicative of ways the industry is working together to better cater to shoppers’ growing need for speed and convenience.
“Stores with physical and online footprints have been utilising better data analytics tools this year ahead of the busy period, to better assess their channels and streamline their ecommerce portals.
“Retailers have really upped the ante on their fulfilment and delivery services this year, and will be utilising rapidly advancing technology to give more accurate feedback on changing consumer needs, to offer even better services into 2018,” she said.
And while shoppers might be keen to get the job done swiftly, the Ms Lamb said personalised service will still be high on the agenda.
“Experiential shoppers won’t just be looking to walk into a store, grab the product they want and leave. They will be looking for a more individualised service that provides a more immersive retail experience, rather than simply a Christmas shopping chore.”
STATE | Projected spend (last 2 weeks of Nov through to Dec 31) |
NSW | $15.9 billion |
VIC | $12.3 billion |
QLD | $9.4 billion |
SA | $3 billion |
WA | $5.15 billion |
TAS | $949 million |
NT | $431 million |
ACT | $883 million |
TOTAL | $48 billion |