Kitchen appliances and home electronics are heading the 2016 Christmas shopping list, according to The National Retail Association’s (NRA) chief executive Trevor Evans. He said every state and territory is expected to enjoy a lift in Christmas spending with the country’s most populous state, NSW, tipped to spend the most.
Australian shoppers have an extraordinary $44.5 billionin their pockets to spend in the lead up to Christmas, up more than four per cent on last year.
However, it is Victoria and the Northern Territory which are expected to have the biggest increases in spending.
NSW shoppers are forecast to spend $14.2 billion, a three per cent lift on last year, while Victoria and the NT are expected to enjoy eight per cent increases to $11.6 billion and $400 million, respectively.
“Department stores, recreational goods and personal services always see a big boost in the leadup to Christmas,” Evans said.
“This year, we are expecting to see some other categories to also do well, including fashion accessories, and household goods such as appliances and electronics.”
He said consumer confidence was recovering after being dented by global growth concerns, including the Chinese slowdown, and recent political instability in Canberra.
“All of that instability is washing out of the system bit by bit and, as a consequence, we are seeing confidence stabilise and consumer spending start to increase,” he said.
AUSSIES TO SPLURGE A BIT MORE THIS CHRISTMAS:
NSW to spend $14.2b, up 3pct
Vic to spend $11.6b, up 8pct
Qld to spend $9b, up 6pct
WA to spend $5.3b, up 6pct
SA to spend $2.9b, up 6pct
Tas to spend $900m, up 5pct
ACT to spend $800m, up 3pct
NT to spend $400m, up 8pct
This story first appeared in Appliance Retailer.