Cyber week sales surge extends to holiday period.

 

The surge in demand for consumer goods and services over the Christmas/New Year holiday period will be tempered by ongoing supply chain issues and staff shortages, according to the Australian Retailers Association.

 

The strong sales forecast compiled by research firm Roy Morgan, points to a strong trading period from Boxing Day through to mid-January with sales poised to increase 2.1 per cent on the previous year’s spending spree.

 

The $21 billion overall sales forecast represents a 12.6 per cent increase on retail spending pre-pandemic in 2019.

 

The biggest winners from this season’s spending spress will be the hospitality sector where spending is expected to jump 10.7 per cent year-on-year to $2.9 billion.

 

Clothing, footwear and accessories are set to continue their strong rebound with sales to rise 6.9 per cent.

 

Paul Zahra, CEO of ARA, says the latest figures nationally reflect strong momentum experienced by retailers in the lead-up to Christmas.

 

“It’s great to see people out and about in great numbers enjoying some retail therapy after another year disrupted by COVID,” Zahra said.

 

“We’ve experienced a record-breaking Black Friday with sales exceeding expectations, and that’s provided businesses with strong momentum for this critical trading period,” he said.