Tuesday, April 16, 2024

Pre-Christmas sales of $12 billion projected for Queensland market

Queensland retailers can look forward to a positive pre-Christmas sales period with just over $12 billion to be spent in the lead up to the big day, on all things from fashion to food and household goods to hospitality.

The pre-Christmas sales forecasts from the Australian Retailers Association (ARA), in conjunction with Roy Morgan, show that while forecast spending in Queensland is down 1.5% on last year however, the result reflects an increase of 12.3% on pre-pandemic conditions in 2019.

Queenslanders are forecast to spend $5.2 billion on Food, $2.1 billion on household goods, $1.6 billion in hospitality, $836 million on clothing, footwear and accessories and $634 million in department stores.

“Christmas is just 52 days away and Queensland retailers are in full swing, decking out their stores with decorations and Christmas merchandise as they look to capitalise on the most critical time of year on the retail calendar,” says ARA Chief Industry Affairs Officer Fleur Brown.

“For many discretionary retailers, like those in fashion and accessories – the Christmas trading period is when they make up to two-thirds of their profits. There are positive signs for retail sales in the months ahead and businesses will be looking to capitalise on the ‘pent-up’ demand across the economy.

“We’re forecasting Queenslanders will spend just over $12 billion in the pre-Christmas sales, and while this is slightly down on last year’s spend, it’s up significantly on pre-pandemic conditions which is a great result. Consumer sentiment is upbeat and border restrictions are easing, which will open the state up to tourists from interstate, providing businesses with an additional boost.

“Online sales are on a powerful trajectory and we’re predicting a record amount of Christmas shopping will be done online this year. Given the strain our supply chains are under, it’s important for consumers to plan ahead – be mindful of potential delays and get in early to ensure your products arrive in time,” Ms Brown said.

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