The National Retail Association (NRA) has revealed that Australians are set to splurge $14 billion nationwide in the final week before Christmas.
With just days until Santa rides his sleigh into town, consumers are set to descend on shopping centres across the country in the mad final rush before Christmas Day.
Shopping frenzy in seven-day countdown
“The NRA is expecting the shopping frenzy to really ramp up as we kick-off the seven-day countdown until Christmas,” said NRA CEO Dominique Lamb.
“According to our forecasts, Aussies are set to splurge $14 billion in the final seven days as shoppers finalise purchases and bag fresh food for their Christmas Day celebrations.
“After an underwhelming year for retail, the Christmas trade period has so far proven to be a welcome relief. Black Friday was an unprecedented success, with $5 billion spent in the four days to Cyber Monday.
“Although there is a growing trend that sees consumers knocking off Christmas shopping earlier than in previous years, the final week is still the most frantic time for retailers across the country with $2 billion spent per day.”
NRA Christmas spending forecasts
The NRA has forecast Australians to spend a total of $50.1 billion throughout the Christmas trade period, which encompasses half of November and all of December.
|STATE||2019 7-day countdown forecast (Dec 18-24)|
|ONLINE SALES||2019 7-day countdown forecast (Dec 18-24)|
|Pure-play Online||$350 Million|
|Multi-Channel Online||$650 Million|