Australia's Boxing Day sales to hit $2.3 billion

Crowds rush inside the David Jones Elizabeth St store in Sydney. Don Arnold/Getty Images

Boxing Day sales are expected to reach $2.3 billion, according to the Australian Retailers Association.

Retailers are reportedly happy with the size of the crowds of shoppers.

“Every year Boxing Day crowds seem to expand, and this year’s crowd certainly did not disappoint,” says Russell Zimmerman, executive director of the retailers association.

“We predicted retailers would trade over $2.3 billion this Boxing Day, and judging by the increase of people in stores, I think we may have hit the mark.”

This Boxing Day, Myer launched its biggest stocktake sale and expected 1.6 million customers through the department store doors.

Online retailers have also seen an increase in activity during the last 24 hours.

“Boxing Day is only the start of the sale period, and we anticipate this shopping spree to continue for the next two or three weeks,” says Zimmerman.

Research by Roy Morgan and retailers association estimates $17.2 billion will be spent from December 26 to January 15.

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