According to the Australian Retailers Association, consumers are expected to spend around $6.77 billion over the two-week post-Christmas sale period.
The two-week period which generally runs from Boxing Day through to early January, is always a busy time for retailers but this year is expected to be even busier with a four per cent increase in spending over the period.
On a state by state basis New South Wales is expecting the most with $2.15 billion in sales, Victoria is second with $1.67 billion, Queensland is third with $1.34 billion, Western Australia is next with $783 million and South Australia rounds out the top five with an expected $472 million.
Tasmania, Australian Capital Territory and Northern Territory are expecting $149 million, $128 million and $69 million respectively.
Russel Zimmerman, director of the Australian Retailers Association, commented on the findings.
“Crowds are always expected when consumers head to the shops for post-Christmas day bargains, but this year’s savvy shoppers will include the 8.6 percent of consumers who will finalise their Christmas shopping during the Boxing Day sales period,” he said.
“It’s easy for shoppers to be excited and overwhelmed during post-Christmas sales but we are advising consumers to keep their cool when bargain hunting and to spend responsibly and within their limits.”