Original article by Roy Morgan
Market Research Update – Page: Online : 7-Dec-22
The Australian Retailers Association has bumped up its pre-Christmas spending forecasts by another $2 billion, now predicting that a record $66 billion will be spent in the November to December Christmas trading period. The ARA holiday sales predictions with Roy Morgan forecast a record-breaking spend in the lead up to Christmas, which is up 6.4% on last year’s spending. Out of the states and territories, NSW, Victoria and Queensland have driven most of the projected spike in spending. New South Wales is set to record a $20.8 billion spend (up 7.7%), followed by Victoria with $17.1 billion (up 5.2%), with Queensland spending predicted to top $13.5 billion (up 6.8%). Sensory indulgence is a key theme for spending 2022, with alcohol and food topping the list of intended Christmas gift purchases for this year, followed by gift cards and toys. Men were the most likely to purchase alcohol or food, whilst women were more interested in small inexpensive gifts or novelties, clothing, shoes and sleepwear or books and music.
CORPORATES
AUSTRALIAN RETAILERS ASSOCIATION,{SPAC}ROY MORGAN LIMITED