The frenzy of the Boxing Day sales may have died down, but savvy shoppers are still reaching into their hip pockets -- which is great news for retailers.
Figures released yesterday by the Australian Retailers Association (ARA) and Roy Morgan Research show that retailers are on track to hit the $16.8 billion mark from sales during the period from Boxing Day right through until January 15.
The biggest winners this year are set to be retailers in Victoria, with post-Christmas sales growth up 5.6 percent to $4.2 billion across the 21-day period, followed by NSW at 3.8 percent growth and $5.3 billion.
On the whole, sales are likely to be up 4 per cent nationally on last year’s sales figures for the same period.
ARA executive director Russell Zimmerman said consumers had embraced the annual post-Christmas and January sales this year, taking the opportunity to stock up on bargains not normally seen at other times of the year.
“While the annual Christmas sales period officially kicked on Boxing Day, we’ve seen shoppers continue their spending frenzy right throughout the period and into the New Year,” Zimmerman said.
“While initially on December 26 we saw bigger ticket items walking off the shelves, now the focus has swapped to soft goods such as apparel and footwear, while household items have also been popular.”
Hospitality also experienced significant growth, with an anticipated 3.9 per cent increase to $2.3 billion.
Zimmerman said department stores had also been well frequented over the Boxing Day to mid January period, with a 4.3 per cent predicted growth compared to last year.
Food spending, which was boosted last week thanks to New Year’s Eve parties and holiday barbecues, is on target to meet an expected $6.8 billion.
“It’s great to see shoppers out in force at retail stores, in what is typically the busiest spending period of the year,” Zimmerman said.