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Wednesday, May 29, 2024

Mid-year sales get into full swing

Millions of Aussies will head to the shops this month to take advantage of the mid-year sales as retailers begin to heavily promote their offers as they look to clear their current stock before new season’s merchandise hits the stores to start the new financial year.

Forecasts from Australian Retailers Association (ARA) in collaboration with Roy Morgan show $8.8 billion is expected to be spent during the sales with most consumers (83%) planning to spend the same or more than they did last year.

“The major retailers have discounts across the board and consumers can save hundreds of dollars on a range of items including fashion, shoes and accessories, bedding, homewares and electronics.”

ARA CEO Paul Zahra says there’s never been a better time to head in-store or online to snap up a bargain.

“Shoppers have several significant opportunities to save money throughout the year and when it comes to sales events – Boxing Day and Black Friday get a lot of attention, but the mid-year sales are just as lucrative for consumers in terms of the discounts on offer,” Mr Zahra said.

“The sales will run throughout June – or whenever retailers clear out their excess stock, so consumers should not wait till the last minute. Whether it’s something for yourself or for your home – there’s discounts wherever you look, but be warned – popular items will be snapped up quickly.

“It’s also a good time for business owners and consumers to pick up any work-related items, like computers, cameras and phones, which could save you come tax time next month.

“We know that many people are more conscious about their household budgets, with the cost of living going up and interest rates on the rise, so this is an ideal time to make any discretionary purchases and pay less.”

Forecasts from the Australian Retailers Association (ARA) in collaboration with Roy Morgan show that:

  • 2 million Aussies plan on shopping in the mid-year year sales, with $8.8 billion forecast to be spent in-stores and online.
  • Consumers will spend an average amount of $1,420 each, with the vast majority (83%) planning to spend the same or more than they did last year
  • Consumers planning to spend during the mid-year sales will be doing an average of 52% of their shopping online
  • Men will spend at a far greater rate, with average purchases totalling $1,778 compared to $958 for women.

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