The holiday shopping season is projected to generate some $10 billion of total sale for the retail industry and big chunk of that pie would be enjoyed by Australian retailers, reports said.

According to IBISWorld, that staggering amount of money would be poured down on the sector in the present financial year and a significant fraction of that would be reserved for web-based retailers.

"Sales for online Australian retailers will grow by 9.3 per cent this Christmas ... which will make online retail by far the best performing area in terms of retail," IBISWorld senior analyst Ian McGowan told the Sydney Morning Herald.

And as the holiday season gears into full swing, Australian and New Zealand shoppers are expected to rush up their online shopping, basing on data provided by major online retail players, eBay and PayPal.

Consumers looking for the best buy to serve as their holiday gifts are expected to take on products offered on eBay, with the site anticipating more than 1.6 million hits and possible purchases by the end of the week.

According to eBay Australia vice president Deborah Sharkey, in the last 12 months alone, eBay site analysts noted that Australian visitors have ramped up their quests for the best online bargain that can be had.

"With more than 10 million Australians now shopping online, smart shoppers can get the best deals on gifts and save time and energy to spend on the most important ingredients of the festive period, friends and family," Sharkey was quoted by SMH as saying on its report.

Much of the transactions would be coursed through PayPal, and the payment processing site has indicated that the next two weeks will mark the busiest period of online holiday shopping spree, specifically during the next two weekends or from Thursday through Sunday.

Though many who aim to secure products are that offered from overseas are seen to scamper in securing their order by today, Dec 5, which according to SMH is the cut off for the goods to hit the doors on or before Christmas time.

By its own estimate, the Australian Post has projected some three million additional parcels from its usual volume for the December month and the gradual increase has been seen since the mid-part of the year, according to Australian Post chief executive Ahmed Fahour.

"Since July, we've seen parcels growing at almost 13 percent compared to the same time last year - a figure which can be directly linked to Australians taking up online shopping in record numbers," Fahour told the SMH.