During the 2023 November to Christmas trading period, spending on food across Australia was expected to come to around 26 billion Australian dollars. In comparison, spending in department stores during the pre-Christmas sales was forecasted to amount to just over 3.6 billion Australian dollars, with predicted total spending of over 66 billion Australian dollars in 2023.
Nonetheless, inflating prices and lower disposable income have put a spanner in the works for many households across Australia during the 2023 Christmas period, with several consumers planning to rein in spending. Many shoppers planned to employ money-stretching and saving strategies, including cutting back on personal expenditures, such as eating out, using loyalty points, and utilizing BNPL services, such as Klarna and After Pay, to afford spending more over the holiday period. Others decided to focus more on purchasing cheaper gifts, secondhand gifts, and fewer gifts, with over 30 percent of parents indicating they were very likely to only buy Christmas presents for their kids.
Forecasted retail spending during pre-Christmas sales in Australia in 2023, by category
(in billion Australian dollars)
Characteristic
Spending in billion Australian dollars
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Roy Morgan. (October 9, 2023). Forecasted retail spending during pre-Christmas sales in Australia in 2023, by category (in billion Australian dollars) [Graph]. In Statista. Retrieved September 01, 2024, from https://www.statista.com/statistics/1074627/australia-pre-christmas-sales-spending-forecast/
Roy Morgan. "Forecasted retail spending during pre-Christmas sales in Australia in 2023, by category (in billion Australian dollars)." Chart. October 9, 2023. Statista. Accessed September 01, 2024. https://www.statista.com/statistics/1074627/australia-pre-christmas-sales-spending-forecast/
Roy Morgan. (2023). Forecasted retail spending during pre-Christmas sales in Australia in 2023, by category (in billion Australian dollars). Statista. Statista Inc.. Accessed: September 01, 2024. https://www.statista.com/statistics/1074627/australia-pre-christmas-sales-spending-forecast/
Roy Morgan. "Forecasted Retail Spending during Pre-christmas Sales in Australia in 2023, by Category (in Billion Australian Dollars)." Statista, Statista Inc., 9 Oct 2023, https://www.statista.com/statistics/1074627/australia-pre-christmas-sales-spending-forecast/
Roy Morgan, Forecasted retail spending during pre-Christmas sales in Australia in 2023, by category (in billion Australian dollars) Statista, https://www.statista.com/statistics/1074627/australia-pre-christmas-sales-spending-forecast/ (last visited September 01, 2024)
Forecasted retail spending during pre-Christmas sales in Australia in 2023, by category (in billion Australian dollars) [Graph], Roy Morgan, October 9, 2023. [Online]. Available: https://www.statista.com/statistics/1074627/australia-pre-christmas-sales-spending-forecast/