Australians expected to splurge more than $50 BILLION on food and gifts during festive season
- Australian shoppers are expected to spend $50 billion during the festive season
- Technology products like drones and fitness related products are selling well
- $18 billion is expected to be sold at bricks and mortar store with online options
Australian shoppers are set to splurge a record $50 billion on retail sales this festive season with almost $18 billion of it at bricks and mortar stores in the lead up to Christmas Day.
The expected overall figure would be five per cent jump on last year, with shoppers increasingly buying online and closer to Christmas Day, the National Retail Association says.
'There's been a 35 per cent increase in spending online and that's all about convenience,' chief executive Dominique Lamb told reporters in Brisbane on Thursday.
Technology products like drones and fitness related products are selling well
Australian shoppers are expected to spend $50 billion during the festive season
'People are working longer hours, they're certainly busier this time of year and it's all about making sure they get the right gift for the right price.'
Despite the growth in online sales, Ms Lamb says $17.8 billion will be spent at physical stores in the 10 days before Christmas Day as shoppers take advantage of longer trading hours.
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'Retailers are certainly reporting their figures have been great this year and we are seeing more and more foot traffic come into our centres,' she said.
Ms Lamb says technology products, such as drones, were selling well, as are fitness related products.
'They're (also) spending on nostalgic items such as Mickey and Minnie's 90th anniversary, we know they're looking for personalisation and leather emboss goods,' she said.
Despite the growth in online sales, Ms Lamb says $17.8 billion will be spent at physical stores in the 10 days before Christmas Day as shoppers take advantage of longer trading hours
Ms Lamb says the boost in sales was welcomed by traditional bricks and mortar retailers, who have increasingly adjusted their business model to include an online offering.
'Regardless of what's happening in our economy, we know that people still come out
$18 billion is expected to be sold at bricks and mortar store with online options
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