Boxing Day has lived up to being retail’s event of the year with increases seen in each state and territory across the country. Nationally, consumers have spent around $2.28 billion nationwide in the Boxing Day sales, which is up from $2.19 billion on last year.
We have certainly seen economy-wide spending increases in recent months and according to the Commonwealth Bank, it rose by 1.2% in November after an upwardly revised 1.1% lift in October. Making this year’s spending expanding in the fastest pace in seven and a half years.
The good news for retailers is that not only did 16 of the 19 industry sectors see a lift in activity in 2016, but all states and territories were higher in the month of December. This means that we have good reason to expect that there will be a lift in broader base spending beyond the all-important Christmas and Boxing Day period.
This really is an auspicious ending to 2016 and we would expect to see this momentum carry into 2017.
To reiterate what we have said in the media in relation to Boxing Day sales, on a state-by-state basis Australia has performed as follows:
|STATE||2015 ($M)||2016 ($M)|
|2.19 billion||2.28 billion|
Many members are continuing to ride the season of the sale well into the new year whilst navigating the complications of public holidays. This holiday season can be a confusing time but please feel free to give us a call on 1800 RETAIL (1800 738 245) for advice on your obligations around these dates. We can also help you know your rights and responsibilities around requiring staff to work on public holidays and throughout this period.
We wish you all a very happy and auspicious new year.