Xmas shoppers to spend $12b this week

Customers are expected to part with nearly $520 each on average in the week before Christmas. Source: news.com.au

RETAILERS expect shoppers to spend almost $12 billion within Australia this week in the run-up to Christmas, nearly twice as much as last week.

Customers are expected to part with nearly $520 each on average in the week before Christmas, according to projections from the Australian National Retailers Association (ANRA) and GE Capital Christmas Retail Index.

This week NSW shoppers are tipped to be the biggest spenders with an estimated total of over $2.5 billion, followed by Victorians on $1.97 billion, Queenslanders on $1.9 billion and West Australians on $1.1 billion.

Last week's total spend within Australia was estimated at around $6.5 billion.

ANRA Chief Executive Margy Osmond said some states and territories would see less spending this week as more organised shoppers in the ACT, Northern Territory and South Australia wrapped up their shopping early.

She said most Australians would have one or two gifts left to purchase as they finalised their Christmas lists.

Only 10 per cent of people reported doing most of their shopping in the two to six days before Christmas but twice as many said they would complete theirs in the last few days.

About $9.85 billion is expected to be spent at bricks and mortar stores while $2 billion is expected to be spent locally on online purchases, making a total of $11.85 billion.

The projections do not include overseas online spending prospects.

Ms Osmond said many Australians would take advantage of extended trading hours to finish off their shopping and enjoy the buzz around the shops.

Check out some great ideas in our Christmas Gift Guide

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