Savvy shoppers have the chance to grab an early Christmas bargain, as retailers across Australia bring forward their discounting strategies in the face of flat festive season sales.
The National Retail Association has today released its projections for the Christmas sales period, predicting that Australians will spend around $63 billion between now and the end of December.
However, National Retail Association Director Rob Godwin said the industry was expecting a generally flat sales period, with little-to-no growth compared with last year.
“We are predicting the industry as a whole will have around the same result as last year – probably in the area of $63 billion nationwide,” Mr Godwin said.
“We are already seeing around 40 per cent of retailers beginning the discounting cycle, in order to get consumers to open their wallets.
“As a result, it’s shaping up as very much a buyers’ Christmas, with great deals already available for those who get in early.”
Mr Godwin said the high point for the sector was the increasing popularity of the Black Friday/Cyber Monday sales event, which is expected to generate some $6.3 billion in sales.
“This grows in popularity every year, and is now challenging the traditional Boxing Day and post-Christmas sales period as Australia’s premier shopping event.
“We will see around 10 per cent of the entire festive season spend take place over those four days later this month.
“That’s good news for shoppers, but also for retail workers and business owners who rely on a strong pre-Christmas sales period to carry them through the quieter months of the following year.
“While we know people are tightening their belts at the moment, the good news is that there are bargains to be found out there. 2023 will definitely be a buyers’ Christmas.”
Projected Christmas season* sales 2023
|$19.97 bn||$16.36 bn||$12.82 bn||$4.00 bn||$6.92 bn||$1.24 bn||$510 m||$1.15bn||$62.97|
* The Christmas sales period includes the last half of November and all of December