Aussies to spend $1 billion online in the next seven days: NRA
Aussie shoppers are expected to drop $1 billion in online sales across the next week as the final stretch to Christmas day begins, with $650 million going through omni-channel and $350 million going to pure-play retailers, according to the National Retail Association.
Overall, shoppers are expected to spend $14 billion in the next week across pure-play, omni-channel and bricks-and-mortar retailers.
The news should come as a relief to retailers, NRA chief executive Dominique Lamb said, after an underwhelming year in retail.
“Although there is a growing trend that sees consumers knocking off Christmas shopping earlier than in previous years, the final week is still the most frantic time for retailers across the country with $2 billion spent per day,” Lamb said.
“The NRA is expecting the shopping frenzy to really ramp up as we kick-off the seven-day countdown until Christmas.”
In total, the Australian retail industry is expected to earn $50.1 billion in sales across the entire holiday period – a 3 per cent bump on 2018’s figure of $48.6 billion.
Lamb has previously stated that omni-channel retailers are likely to outperform pure-play competitors this holiday season, being able to offer a unique in-store experience coupled with a savvy online sales avenue.
“Customers are now placing a greater emphasis on their experience at the shops, and not only traditional factors such as quality and price,” Lamb said.
“Those who are driving in modern retail offer interactive services that engage shoppers in new and exciting ways.”
However, the Australian Retailers Association and Roy Morgan said they expect the ongoing threat of bushfire to impact spending, with outgoing ARA executive director Russell Zimmerman expecting Christmas trade to be solid, if unspectacular.
This is an edited version of a story that first appeared on sister site Inside Retail.