Well retail sales are running at record levels now, and the forecasts here show sales are expected to remain strong until next year.
"Australian retail sales are set to remain strong over the festive trading period, with consumers to continue spending in the face of cost-of-living challenges, according to the most comprehensive Christmas insights ever released by the Australian Retailers Association (ARA) in collaboration with strategic partners Roy Morgan and Salesforce.
Australians are forecast to spend $63.9 billion in the pre-Christmas sales period (November 14 – December 24), which is up 3% on last year. Hospitality businesses are set to flourish in the run up to Christmas, with over $9 billion in trade – up 16.3% on 2021.
Out of the states and territories, South Australia is set to record the biggest growth in sales on last year (up 6.6%), followed by the Northern Territory (up 6.5%). Consumers in NSW are forecast to spend nearly $20 billion in the pre-Christmas sales (up 3.1% on 2021), with Victorians to fork out $16.5 billion (up 0.8%) and Queenslanders $13.3 billion (up 4.6%)."
Details are available here.
