As we enter the final week before Christmas, I will keep it nice and brief for this week’s CEO column.
The Australian retail sector is again on track to record the highest level of sales for the Christmas trade period. We have forecast $48 billion to be spent nationally in retail sales throughout this period, $20.3 billion of which will be spent in the two weeks leading up to Christmas day. In the coming days, we will also be releasing our forecasts for Boxing Day, the single busiest day during the Christmas trade period. See the table below for the state-by-state breakdown of projected spend.
The early indications are that Amazon has not dominated the retail market as some predicted. As the NRA has foreshadowed for some time, Amazon is confronting greater logistical challenges in Australia than places like the United States. Many Australians also enjoy shopping in-store and the experiences it provides, something that can’t be replicated sitting behind a computer screen.
I hope that the final days of the Christmas trade period are successful and hope you all get a much deserved break in the New Year.
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 |
Have a great week.
Dominique Lamb, CEO.