Wednesday, January 20, 2021
Home Breaking News Boxing Day sugar hit but danger ahead

Boxing Day sugar hit but danger ahead


#Retailers have breathed a sigh of relief with #Boxing #Day sales tipped to exceed expectations, but a leading industry body says there may be danger ahead as the government prepares to slash income support.

#National #Retail #Association (NRA) CEO #Dominique #Lamb said reports are pointing to a boon for retailers who have struggled all year due to the forced closures and restrictions caused by the COVID-19 pandemic.

#Even NSW retailers have had a financial injection during the post-Christmas sales period, despite lockdown measures following a coronavirus outbreak in the #Northern #Beaches region, #Ms #Lamb said.

- Advertisement -

“Outside of #Sydney’s CBD, #Penrith, #Parramatta, #Miranda, #MacArthur #Square, all those major shopping centres were doing particularly well,” she said

“Our prediction for NSW was $914 million on #Boxing #Day and $2.75 billion across the country and we know #Victoria and #Queensland were busy and online traffic has been really good too.

“It’s been a sugar pill for retailers but with what is going to happen in #March, with #JobKeeper coming out of the market and #JobSeeker reducing, it’s going to be dependent on the unemployment figures.”

The government is expected to axe the #JobKeeper scheme, which paid businesses to keep employees on the books, and ditch the coronavirus supplement to the #JobSeeker unemployment payment in #March.

“The money has to be in the economy for discretionary spending to be up and without #JobKeeper and a reduction in #JobSeeker it will be interesting to see what happens,” #Ms #Lamb said.

#Retail expert professor #Gary #Mortimer said sales figures were likely to be much greater for #December than the six per increase predicted by the NRA and the #Australian #Retailers #Association.

The #Queensland #University of #Technology marketing professor pointed to #Australian #Bureau of #Statistics data to explain why retailers would be on a high right now.

“If you look at the ABS preliminary data for #November, it showed a 13.2 per cent increase, that’s more than $31 billion spent in #November,” he said.

“That’s the first time we have cracked $31 billion ever in #November and even #October was 7.6 per cent up, so a six per increase for #December seems very conservative.

“It’s possibly going to be closer to 10 per cent with more than $3 billion spent on #Boxing #Day alone.”

#He said even the post-Christmas sales figures the NRA predicted of $19.5 billion being spent between #December 26 and #January 15 was on the low side.

“It is likely to easily exceed $22 or 23 billion for the post-Christmas sales period,” he said.

#David #Jones refused to comment on their post-Christmas sales while #Myer did not respond.

#Supermarket giants #Woolworths and #Coles, however, both had a very #Merry #Christmas when it came to sales.

A #Woolworths spokesman said they had a very busy #Christmas “as anticipated” as more #Aussies celebrated #Christmas at home this year.

“We worked incredibly hard to ensure our customers had a smooth and safe shopping experience amid the elevated demand,” they said.

A #Coles representative said their customers gravitated towards their click and collect service to avoid queues.

“Analysts had been forecasting around a million more #Aussies would be spending #Christmas within #Australia this year, and that has been reflected in an increase in sales in resort areas,” they said

“We are very grateful to customers for continuing to prioritise safety during the busy holiday period, with many planning their visit for quieter periods to help reduce the number of people in stores … making use of our contactless #Click & #Collect and home delivery services.”



[ source link ]
https://www.news.com.au/finance/business/retail/retailers-enjoyed-a-massive-boxing-day-but-danger-signs-are-ahead-industry-group-says/news-story/085cb4d295c1d79f662d2697aed6a5a3

##Boxing ##Day #sugar #hit #danger #ahead

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular

Recent Comments