Forecast to reach $50bn.
For the first time, retail trade is expected to hit $50 billion this Christmas.
National Retail Association CEO, Dominique Lamb said the 2018 trade period is set to increase on the 2017 figures, making it another record spend.“ The NRA is forecasting $50 billion in nationwide retail sales throughout the entire Christmas trade period. A strong sales performance during the festive season can provide a generous windfall that can also help smaller businesses navigate quieter periods of the year,” she said.
Every state and territory is forecasting an increase on the 2017 Christmas results, with a 5.4% increase nationwide. The highest spend is again expected to occur in New South Wales and Victoria, with $16.41 billion and $13.2 billion respectively.
Online sales are also predicted to increase with Pure-play online and Multi-Channel online increasing 31% over 2017, to reach a $3.2 billion forecast spend.
Lamb said personalisation will continue to be a major feature as shoppers place a higher premium on experiential shopping than simply the physical items they purchase.
“A number of bricks and mortar stores with an online presence are also utilising better analytical tools in order to obtain more effective data to maximise sales,” she said.