Australian shoppers are expected to spend $15.1 billion over the period from Boxing Day to mid-January, according to figures from the Australian Retailers Association.
The group is also forecasting sales to meet expectations for the six-weeks leading up to Christmas. $42.1 billion worth of sales were expected.
This would represent a three per cent rise on last year’s festive season. Another representative group, The Australian National Retailers’ Association, has forecast a 5.4 per cent rise.
Russel Zimmerman is the executive director of the Australian Retailers Association. He’s spoken to ABC News about some of his observations:
“As I sit here at the moment in the middle of Sydney at the moment in Pitt Street mall, there’s plenty of people around, lots of bags which is a good sign, and people seem to be quite happy to be purchasing.”
There is more here.
NOW WATCH: Money & Markets videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.