Victorian shoppers to spend big bucks on Boxing Day

PRE-CHRISTMAS shopping may be wrapping up tonight but retailers are preparing for another day of mammoth sales on December 26 with $2.072 billion expected to be spent on Boxing Day alone, representing a year on year increase of $72 million.

Despite New South Wales (NSW) being tipped to experience the highest levels of growth in post-Christmas sales between Boxing Day and 15 January 2015 (4.2 percent), Victorians are predicted to spend more than any other state on Boxing Day itself.

Victorians are tipped to spend at least $682 million on Boxing Day – out-shopping all of the other states including NSW ($584 million) and Queensland ($374 million).

ARA Executive Director Russell Zimmerman said it was obvious that ludicrous regulations to trading hours in some states, including NSW, have had a major impact on these projected Boxing Day sales figures.

“NSW is Australia’s most populous state, and yet Victoria easily takes the cake when it comes to expected Boxing Day sales. This equals a $98 million loss of trade to NSW retailers, with absurd and outdated trading restrictions largely to blame.

“The ARA is extremely concerned that retailers in some states across Australia are disadvantaged by restrictive reading hours that prevent them from opening their stores on Boxing Day.

“Consumers can buy online 24/7 but many bricks and mortar stores are still unable to open on, what is for many, the largest trading day of the year. We urge the government to review these restrictions as soon as possible.

“On a more positive note, those retailers that are preparing to open on Boxing Day are feeling very confident. If sales continue like they have over the past few days, the ARA and Roy Morgan Research predicated post-Christmas figure of $16.1 billion will certainly be exceeded,” Mr Zimmerman said.

Australian shoppers (aged 14 and older) are tipped to spend an average of $850 each from Boxing Day through to 15 January 2015, representing year on year growth of 3.6 percent.

ARA predicted Boxing Day spend (broken down by state):

2014 predicted spend
$        584,830,927	NSW
$        682,838,897	VIC
$        374,767,893	QLD
$        194,085,804	WA
$        112,055,064	SA
$          50,505,201	TAS
$          25,413,445	NT
$          47,717,228	ACT
$    2,072,214,459	TOTAL

 
ARA/Roy Morgan Research figures – post-Christmas retail sales: 

Category	2013 Post Xmas Actual results	Post Xmas Prediction 2014	Predicted Growth
FOOD	6404	6636	3.6%
HH GOODS	2571	2673	4.0%
APPAREL	1204	1200	-0.3%
DEPARTMENT STORES	1044	1047	0.3%
OTHER	2163	2245	3.8%
HOSPITALITY	2161	2306	6.7%
NATIONAL	15547	16107	3.6%

 

State	2013 Post Xmas Actual results	Post Xmas Prediction 2014	Predicted Growth
NSW	4835	5040	4.2%
VIC	3847	4001	4.0%
QLD	3242	3345	3.2%
WA	1845	1887	2.3%
SA	1012	1047	3.4%
TAS	311	323	3.9%
NT	172	177	3.2%
ACT	283	286	1.2%
NATIONAL	15547	16107	3.6%

*

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.

ends