Australians Expected To Spend Up To $2.8 Billion on Boxing Day

Market - Pavan Pandey - Dec 26,2016

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australians expected to spend up to 28 billion dollars on boxing day

National Retail Association predicts Australians will spend up to $2.8 billion at the sales of Boxing Day, which will be almost 5 percent up from the previous year.

According to the Australia’s largest and most representative retail industry organization, National Retail Association, the citizens in Australia will spend up to $2.8 billion at the sales of Boxing Day, which is nearly 5 percent up from last year’s statistics. After the Christmas, millions of Australian citizens are expected to hit the online stores and shop to snap up the early bargains at the most important day in December.

On the Boxing Day morning, millions of Australians queued in the dark to be the first customers to take part in the huge sales. By 10 am, one parking complex of CBD (Central Business District) was full and another one had lengthy lines of vehicles waiting to enter.

The Chief Executive Officer and Director of NRA (National Retail Association), Ms. Dominique Lamb stated Boxing Day continued the biggest day for retailers across the country. Ms. Lamb further added that the retail completely holds Boxing Day as the standout daytime of the year and it looks like this time it’s going to be a rise of around 4.2 percent across the country on spending.

According to NRA, New South Wales (NSW) purchasers are expected to spend the most across the daytime, handling over about $741 million and West Australians (WA) and Victorians were expected to part with $226 million and $518 million, respectively on the Boxing Day. The acting chief executive of Retail Council, Mr. Steve Wright said spending by the WA buyers was expected to hike at $830 million by the New Year.

The Treasurer of New South Wales and Minister for Industrial Relations, Ms. Gladys Berejiklian said it was the second year the New South Wales government permitted trade outside the CBD on Boxing Day.