Peak retail industry body the Australian Retailers Association's (ARA) week-by-week tracking of retail trade during the Christmas period has found that the final week leading into Christmas Eve over 45% percent of retailers were trading worse than the same time last year.
Retailers comparing trading from 19 to 24 December 2010 to the same time last year said:
- Almost 42 percent were trading above;
- Over 45 percent were trading below;
- Over 12 percent were trading the same as last year.
ARA Executive Director Russell Zimmerman said retailers who were hoping for a substantial last minute rush of Christmas shoppers were largely disappointed in the final days leading into Christmas.
"ARA Christmas trade projections of $39.9 billion (modest 3.5 percent growth) look likely to be met although the Christmas trade started extremely slowly in November after the last interest rate hike forced many retailers into early sales mode.
"As a result of this slower trade, we are already receiving reports that the post-Christmas sales period (26 December until mid January) including massive Boxing Day sales, has been very strong. Although only a small 3 percent growth is predicted, post Christmas sales nationally should hit $6.97 billion nationally.
"Sales of seasonal products, including clothing and footwear, as well as small household appliances have seen strong sales. Products such as Christmas cards, wrapping paper, have seen savvy customers snapping up bargains. Many customers armed with Christmas gift cards are spending up on sale goods," Zimmerman said.
Post -Christmas Sale items only (not including food, restaurants and cafes)*
2010/11 projections: National total $6.97 billion
NSW - $2.23 billion, VIC - $1.74 billion, QLD - $1.37 billion, WA - $799 million, SA - $482 million, TAS - $150 million, ACT - $129 million, NT - $71 million.
For over 100 years, the Australian Retailers Association (ARA) has been the peak industry body in Australia's $240 billion retail sector which employs over 1.2 million people. As an incorporated employer body under the Fair Work (Registered Organisations) Act 2009 and with a range of member services including business consulting, policy development, advocacy and education, the ARA promotes and protects over 5000 independent and national retailers throughout Australia. Visit http://www.retail.org.au/ or call 1300 368 041.
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