A $1.6 billion Boxing Day
Australians are expected to splash $1.6 billion on Boxing Day sales alone, as budget-conscious shoppers gravitate towards a bargain despite growing cost-of-living pressures.
Sales are tipped to rise by 4.3 per cent, delivering strong end-of-year momentum for retailers according to data from the Australian Retailers Association and Roy Morgan.
The spending surge is expected to continue into the coming week, with shoppers projected to spend $3.8 billion through to the new year.
Solid pre-Christmas spending
Early Christmas purchasing and a solid build-up through December have created a strong platform for Boxing Day trading, the association's chief executive Chris Rodwell said.
"Retailers are finishing the year on solid footing," he said.
"The growth we're seeing highlights both the resilience of the sector and the enduring appeal of Boxing Day as a premier discount event."
The products expected to drive the numbers
Household goods are expected to be the most popular items on Boxing Day, with $476 million in sales forecast, followed by clothing, footwear and accessories at $226 million.
Hospitality spending is tipped to increase by 6.8 per cent from last year to $141 million.
Supporting local business
Bargain shoppers are being urged to support local retailers during the festive spending period, with Mr Rodwell noting every purchase helps fund local jobs, training, wages and community investment.
"Ultra low-cost offshore platforms like Temu and Shein cannot match that contribution and are not held accountable to the same standards," he said.
