CCI predicts WA consumers will spend a record $3.52 billion in the lead up to Christmas Statement by CCI Chief Executive Officer, Deidre Willmott. Snapshot of CCI’s Christmas retail expectations: • $101.8 million more than last year • Average household to spend $1,450 • 51% to do at least some shopping online WA consumers are expected to eclipse last year’s Christmas record by spending $3.52 billion this December, just over $100 million more than a year ago. The CCI’s Christmas spending survey showed the average household is intending to spend about $1,450 in the lead up to Christmas. “Generally we see households spend between 20 and 30 per cent more in December than in November. The Christmas retail rush is certainly a boost for business and a boost for the economy,” said Ms Willmott. Low income households will spend an average of $790, middle income will spend $1,247 and high income will spend $2,326. Households with children will spend an average of $1,855, compared to $1,173 for households without children. “Businesses in the retail and travel industries are likely to benefit most from the multi-billion dollar Christmas spend as consumers buy gifts and plan holidays. “We also expect grocers and businesses in the hospitality sector to experience strong sales as people make the most of the festive season,” said Ms Willmott. Shoppers in WA will be able to take advantage of the longest shopping hours in the State’s history, with an extra 31 shopping hours in the lead up to Christmas and 25 extra hours in the post-Christmas period. “The State Government’s decision to extend trading hours will be a real bonus for consumers who will enjoy greater convenience, choice and flexibility when doing their pre and post-Christmas shopping this year. “CCI also believes the extra hours will help to boost the state’s retailers in addition to creating more employment opportunities, particularly for young people,” said Ms Willmott. The “bricks and mortar” stores are expected to see strong competition from online retailers this year, with the CCI’s survey showing that 51 per cent of respondents are expecting to do at least some shopping online. “There has certainly been an increasing trend towards online sales, which means local retailers need to ensure they are reaching their customers via their physical store as well as having an online presence,” said Ms Willmott. Retail sales in Western Australia have recovered in recent months after falling for the first five months of the year. Retail sales are now 3.3 per cent higher than they were a year ago.
Posted on: Tue, 02 Dec 2014 03:23:00 +0000
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