Australian shoppers are eager to get back into stores and spare no expense on themselves and others this festive season, according to new consumer research from Citi Australia.

November promises to be a strong month for traditional retail, with nearly 40% of Australians surveyed saying they would be doing their festive shopping in-store this year. One in four consumers also plan to spend more on themselves and others.

Citi Australia head of cards and loans, Choong Yu Lum said the findings were good news for retailers and the broader economy.

“It’s great to see such strong consumer sentiment and appetite to get back into stores,” he said. “It has been a tough few years for Australian retailers, but consumers are clearly signalling they are keen to get back to our shopping centres and make this Christmas extra special.”

Of those surveyed, close to half (45%) plan to spend more than $300 on gifts for others, while 32% were planning to spend between $100 and $200 on gifts for themselves, citing they had saved more and deserved to indulge.

In addition to increased spending, Citi research also shows consumers are bringing forward their Christmas shopping to take advantage of strong online and in-store sales in November. One in two consumers surveyed report they will spend more due to the sales, with under 40s particularly keen to grab a bargain, with 72% planning to spend big in November sales.

“Covid-19 led to many Australians becoming more mindful of their finances and spending habits, and we are seeing that consumers want to get more bang for their buck and will change their shopping habits to get the best deal,” Lum said.

“Shipping and postal delays are also causing Australians to be more mindful this year with 40% of respondents saying they are concerned about shipping delays and are bringing their spending forward because of this, with women and younger Australians more likely to be conscious of these issues.”

With strong demand for cashback rewards, Citi is offering a 5% cashback (up to $100) when consumers spend $500 or more on eligible retail shopping on their Citi credit card between 24 November and 1 December.

“We hope this incentive will help support businesses as Australia reopens and also help our customers to kickstart their Christmas bargains. More than 40% of respondents said this offer would lead them to purchase more in November, and we have designed this cashback offer to be as quick and easy as possible to ensure our customers see real value,” Lum added.