Original article by Roy Morgan
Market Research Update – Page: Online : 20-Nov-20
Roy Morgan’s annual Christmas retail sales forecasts conducted in conjunction with the Australian Retailers Association indicate that Australians will spend over $54.3 billion across retail stores during the Christmas trading period. Forecast retail spending this Christmas of over $54.3 billion is an increase of 2.8% from the $52.9 billion of retail expenditure during the 2019 Christmas trading period and is a better than expected forecast than many would have thought possible during the year as Australia dealt with the unprecedented pandemic. Because of the huge impact on spending patterns caused by COVID-19, and the associated lockdowns around Australia, spending across the six categories measured has diverged significantly during 2020. Unsurprisingly, the largest percentage increasing in spending is predicted for the Food category, with pre-Christmas spending forecast to grow by 10% from a year ago to over $23.8 billion. Due to the impact of COVID-19 and the continuing restrictions, Hospitality spending is forecast to be 18.7% down on a year ago at just under $6.1 billion.
ROY MORGAN LIMITED, AUSTRALIAN RETAILERS ASSOCIATION