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$14 billion shopping splurge for final week before Christmas

Countdown to Christmas

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.

NRA CEO Dominique Lamb said that retailers across the nation were readying themselves for a hectic few days as shoppers make last-minute purchases, stock up on fresh food and cash-in on bargain sales.

“The NRA is expecting the shopping frenzy to really ramp up as we kick-off the seven-day countdown until Christmas,” Ms Lamb said.

“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.”

Ms Lamb also provided some tips for shoppers on how to best navigate this busy period.

“Take the time to research the Christmas trading hours at your local shopping centre as extended hours are in place across many locations throughout the country,” Ms Lamb said.

“If convenient, consider using public transport – or take advantage of the extended trading hours by shopping early or late to avoid peak times in the car park.

“Before you leave for the shops, try and identify what items you’d like to purchase and from which store. With almost all retailers having online sites you can see what items they have on offer and compare prices across businesses.

“And finally, please remember to be patient and polite towards retail staff. It is the busiest time of year for retailers, with many working at capacity, so please keep the Christmas spirit in mind and treat them with patience.”

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.

Graph of 7 day countdown forecast Christmas spending