Aussies Expected to Spend $30B for Christmas
The Australian National Retailers Association (ANRA) forecasts the average Aussie shopper will splurge around $1,280 during the Christmas yearend holiday, boosting the national economy for the last month of 2013 by about $30 billion.
ANRA Chief Executive Officer Margy Osmond said over the weekend that Aussie retailers would enjoy a better Christmas this year compared to the past years when shoppers held on to their purses tighter.
The basis of Ms Osmond's optimism is higher retail figures the past five months, with Aussie retailers expected to net $5.8 billion this week, of which $3.3 billion would go to bricks and mortar stores and $970 million to local online stores. Ms Osmond foresees Internet purchases rising by 18 per cent to $2.6 billion for the yearend holiday season
She added the rise in retail is a positive impact of the interest rate cuts the Reserve Bank of Australia had made in the past months.
YouTube/Alexandra Davidson
Ms Osmond said despite attractive online price cuts, bricks and mortar stores would still rule because "It's one of the few times of the year when shoppers just want to get out and feel the atmosphere of Christmas."