Monday, May 16, 2022

NRA reveals festive forecast

The National Retail Association (NRA) anticipates that consumers will spend $60 billion nationwide throughout the festive season. This includes an online spend of over $8 billion.

NRA CEO Dominique Lamb says a silver lining to lockdowns is that when restrictions are lifted, it does result in strong consumer spending from pent up demand.

“As horrible as 2021 has been for retailers who have been in prolonged lockdown, at least they’ll be open in time to cash in on Christmas,” she says.

The industry body urges Australians to ‘shop early, shop often’ and encourages those shopping online to get in now to ensure they don’t miss out on getting their preferred Christmas purchases.

Ms Lamb also urges Aussies to support local retailers given many have endured a difficult 2021.

“Our number one message to Australians this Christmas is to get in early to ensure you get your preferred items under the festive tree in 2021,” she says.

“We also urge consumers to support local retail businesses throughout the festive season. Shoppers will be spoiled for choice over the next six weeks with events such as Black Friday, Cyber Monday, and the Boxing Day sales, all on top of the pre-Christmas frenzy.”

STATE2020 spend2021 forecast spend% increase from 2020
NSW$17.4 billion$19 billion9.5%
Vic$14.4 billion$15.5 billion8%
Qld$11.4 billion$12.4 billion8.5%
SA$3.5 billion$3.7 billion7%
WA$6.1 billion$6.6 billion8.4%
Tas$1.1 billion$1.2 billion7.5%
NT$491 million$518 million5.5%
ACT$1 billion$1.1 billion9%
TOTAL$55.4 billion$60 billion8%
ONLINE SALES2020 spend2021 forecast spend% increase from 2020
TOTAL$5.4 billion$8.2 billion51%

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