SALES SPIKE CONTINUES
Written on the 4 January 2016
A SPENDING frenzy will continue well into the new year according to new figures released by the Australian Retailers Association (ARA) and Roy Morgan Research.
Retailers around the country are on track to take $16.8 billion from Boxing Day until January 15, with $1 billion of this figure coming from department stores.
Big ticket items are being overlooked for soft goods like apparel and footwear, says ARA executive direction Russell Zimmerman.
"Department stores have also had particularly strong foot traffic, with our figures anticipating a 4.7 percent increase for the category compared to last year," says Zimmerman.
Food spending, which was boosted last week by shoppers stocking up on food and beverages for New Year's Eve parties and holiday barbeques is on target to meet an expected $6.8 billion in purchases.
Victoria will see the lion's share of the post-Christmas shopping growth, up 5.6 percent to $4.2 billion across the 21-day period tracked by ARA and Roy Morgan, followed by NSW at 3.8 percent growth and $5.3 billion.
Queensland and South Australia are both expected to grow 3.3 per cent.