Peak retail industry body the Australian Retailer's Association (ARA) tips post-Christmas sales to increase by 7% on last year's figures with Australians spending $6.2 billion from Boxing Day through to mid January 2008.
ARA Executive Director Richard Evans said on a state-by-state basis, shoppers in NSW will spend $2.1billion, Victoria - $1.5 billion, Queensland - $1.2billion and West Australia - $682 million.
Victoria will begin on Wednesday 26 December and is expected to be the strongest performer across the country, ringing in up to $250 million on Boxing Day itself.
Boxing Day sales figures are expected to vary across the country due to trading restrictions in various states. With only Sydney CBD shops and tourist areas permitted to trade on Boxing Day, NSW will see their best trading day on 27 December.
Undeterred by interest rate rises, increasing petrol prices or festive spending, big ticket items such as entertainment systems, designer clothes, shoes along with household products have consistently proved to be the big draw cards in all states.
Although exact figures won't be available until February 2008, the ARA estimates shoppers will spend up to $2.3 billion for household and entertainment products, and $938 million for clothing and footwear.
Adding to the sales shoppers are Christmas shoppers who wait for the sales prior to buy up for Christmas. The 2007 ARA Deloitte Christmas Retail Survey revealed up to9.4% of Christmas shopping will be done after Christmas.
marketing@alchempro.com
