Australians are expecting to whip out more than $11 billion for Christmas this year, and retailers are starting to prepare for another record-breaking year for e-commerce.
According to a report from Roy Morgan and the Australian Retailers Association, Australian consumers are set to spend a whopping $11 billion on gifts, and a ‘significant’ amount will be spent online.
According to the survey results, taken from more than 2,300 Australians, showed that gift buyers are expecting to spend $726 each, with the majority (79 percent) of consumers saying they plan to increase their holiday spend this year. The survey indicated that the most generous age group are consumers aged 35-49.
“The past few months have been a uniquely challenging time for most retailers, in particular small businesses navigating extended state-imposed lockdowns and restrictions that have limited their ability to trade,” shared Paul Zahra, the CEO of the ARA. Further, he explained that despite uncertainty, the consumer confidence scale is ‘upbeat’ for the holiday season, which is a promising sign for retailers moving towards Christmas.
“Greater freedoms in locked down parts of the country are on the horizon and retailers can’t wait to have people back in their shops in the lead up to Christmas,” he said. “Not surprisingly, a significant amount of Christmas shopping is set to be done online this year which is an accelerating trend as a result of the pandemic. Consumers should be mindful of the strain our supply chains are under and make sure they get their online orders in on time to avoid disappointment. We might be in September, but we’re already seeing Christmas levels of demand with current online purchases.”
There are less than 15 weeks until Christmas, and with lockdowns ongoing across several states, Australian consumers are starting to increase their holiday spending already. “With less than 15 weeks to go, the countdown is now on to the busiest time of year on the retail calendar, and with over $11 billion set to be spent on gifts this year, retailers look set to share in the Christmas spoils,” Zahra shared.
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