Latest shopping figures from the Retail Council Christmas Spending Index released today show SA businesses will bring in $2.2 billion over the 30 days to Christmas.
“Nationally $35 billion is expected to be spent in the lead-up to Christmas,” chief executive officer Anna McPhee said.
“This year’s forecast indicates retail is in a slightly stronger position to build on last year’s performance and is on target to contribute more than 4.5 per cent of Australia’s GDP.”
Online purchases continued to push retail spending, McPhee said.
“Particularly at Christmas and [online purchases] are expected to make up around 16 per cent of total sales over the period.”
She said Christmas shopping created 30,000 jobs and provided extra hours for existing staff.
The index, compiled since 2008, has broken down spending forecasts for each state and territory with New South Wales by far and away handing over more Christmas cash than any other region.
NSW shoppers will spend $11 billion during the Christmas period, followed by Victoria spending $8.6 billion, Queensland $7.2 billion and Western Australia $4 billion.
Northern Territory shoppers will spend $383 million during the Christmas period, Tasmania $691 million and ACT will fork over $623 million.
Findings were deduced after a recent survey of shoppers on their consumer intentions. The council also found a majority of customers planned to do most of the purchasing in the coming weeks or right up to Christmas eve.
“In the week to Sunday we are projecting total sales of $5.25 billion as shoppers turn their thoughts to Christmas preparations,” McPhee said.
“Sales are expected to build week-on-week to December 24.”
Local News Matters
Media diversity is under threat in Australia – nowhere more so than in South Australia. The state needs more than one voice to guide it forward and you can help with a donation of any size to InDaily. Your contribution goes directly to helping our journalists uncover the facts. Please click below to help InDaily continue to uncover the facts.