ANRA: Consumers to spend $1000+ each
Retailer body ANRA has put a figure on festive spending for the biggest week of the year.
According to weekly Christmas spending projections released by the Australian National Retailers' Association, the average family is anticipated to spend about $1,060 on Christmas preparations including gifts, food, liquor and dining
ANRA chief executive Anna McPhee says "Despite consumer confidence readings suggesting a cautious community, more people have returned to retail in the last 12 months and delivered growth to the sector and the economy more broadly. This incremental growth will assist the sector in contributing a little more than four per cent to Australia's GDP this year."
More than $8.3 billion is expected to be spent nationally this week with the average family anticipated to spend about $1,060 on Christmas preparations.
"Consumer spending is important for the national economy and it is encouraging that retail sales are expected to surge by around ten per cent compared to last week with Australian shoppers anticipated to spend about $750 million more than the previous week," reports the retailer peak body.
To prepare for the Christmas rush, the retail sector has employed around 39,000 additional staff this December as well as providing existing staff with extra shifts. The retail sector employs more than 1.2 million Australians.
* Picture credit: Brisbane City Council
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