$2.072 billion to go through retail tills on Boxing Day

WITH only two days left before Christmas, retailers can expect stampedes of last minute shoppers to hit stores across Australia today and tomorrow – bringing the pre-Christmas shopping period to an end which has seen $45 billion spent since mid-November.

The Australian Retailers Association (ARA) has also released its projected figure for retail sales on Boxing Day, with a whopping $2.072 billion expected to be spent on 26 December alone – a year on year increase of $72 million.

ARA Executive Director Russell Zimmerman said if Boxing Day 2013 was anything to go by, retailers are in for another successful day of sales this Friday.

“Boxing Day 2013 saw unprecedented crowds, with many stores forced to restrict entrance due to the sheer number of people already in store. Many shoppers spent hours waiting in lines – lining up to get into the store as well as lining up to make their purchases.

“While retail staff do a fantastic job of preparing for their Boxing Day sales, the ARA does encourage shoppers to remain patient and understanding if they plan to hit the shops this Friday.

“Overall, the fact that Boxing Day sales are set to increase by $72 million this year is a fantastic sign for the retail industry. The ARA does have remaining concerns, however, that some retailers in some states across Australia are disadvantaged by restrictive reading hours that prevent them from opening their stores on Boxing Day. We urge the government to review these restrictions as soon as possible,” Mr Zimmerman said.

Looking ahead to the post-Christmas shopping period as a whole (from 26 December to 15 January 2015), Australian shoppers aged 14 and older are tipped to spend an average of $850 each, representing a total of $16.1 billion in post-Christmas retail sales.

• PRE-XMAS: Shoppers expected to spend $45 billion from 15 November – 24 December ($2,370 per person and year on year increase of 4.3%)
   
• POST-XMAS: Shoppers expected to spend $16.1 billion from 26 December -15 January ($850 per person and year on year increase of 3.6%)
   
• BOXING DAY: Shoppers expected to spend $2.072 billion on Boxing Day (an increase of $72 million year on year)

Since 1903, the Australian Retailers Association (ARA) has been the peak industry body representing Australia’s $265 billion retail sector, which employs over 1.2 million people. The ARA ensures retail success by informing, protecting, advocating, educating and saving money for its 5,000 independent and national retail members throughout Australia.

Visit www.retail.org.au or call 1300 368 041