- According to Commonwealth Bank (CBA) research, Australians are planing to spend $4 billion in this year’s Boxing Day sales
- According to the bank, around 69 per cent of Aussies are planning to grab a bargain or two in the sales
- Around 40 per cent of those planning to participate in the deals belieave they will spend $557.
- Interestingly, despite the rise in online shopping, 41 per cent of Australians are planning to shop in-store, with 28 per cent saying they will shop in-store and online
- This year, males will are more likely to be heading in-store this Boxing Day and will be spending the most
Australians are planning to spend $4 billion in this year’s Boxing Day sales, according to Commonwealth Bank (CBA) research.
According to the bank, around 69 per cent of Aussies are planning to grab a bargain or two in the sales.
As a savvy shopper country, 40 per cent of those planning to participate in the deals have already forecasted how much they would spend – with the average expenditure expected to be $557. This is a 14 per cent increase over what consumers said they spent a year earlier.
The main drive for the sale is “being not wanting to pay full price”.
Commenting on this research is CBA’s Executive General Manager, Everyday Banking, Kate Crous.
“As the nation bounces back, Australians are embracing shopping and are excited to hit the sales,” she said.
“This is welcome news for retailers, who are keen to see consumers return after a tough few months, and is also great for consumers hoping to get good value from their shopping.”
Based on previous Christmas spend trends, CBA customers are likely to spend 22 per cent more in December than any other month of the year.
“Additionally, CBA debit card spend in December this year is likely to increase by 23 per cent relative to the average across other months,” the bank explained.
Interestingly, despite the rise in online shopping, 41 per cent of Australians are planning to shop in-store, with 28 per cent saying they will shop in-store and online.
In a twist of turns, men are more likely to be heading in-store this Boxing Day, with 46 per cent males expected over 35 per cent females. Men are also expected to spend more than females this year, with the average spend at $646 each.
Why is in-store popular this year? Nearly half of Australians are wanting the in-store experience and are looking for inspiration and ideas, according to CBA.
As Australians leave their homes and states they are also leaving their track pants and exercise gear and are looking for something new to wear, with clothing, apparel and shoes predicted to be the top purchase category during the sales.
Young females (18 to 29 years) are expected to be the biggest spenders in this category, with males aged 30 to 39 years most likely to be updating their tech.