AUS
NZ
UK
CA
USA
IND
Highlights
- Commonwealth Bank data highlights that shoppers would spend nearly A$4 billion this year on Boxing Day.
- CBA research indicated that 69% of Australians are expected to spend AU$4 billion for buying single or multiple items.
- The sales are higher by 14% than the previous year.
Boxing Day sales will kick off on 26 December and going to be a big win for Australian retailers as Commonwealth Bank (ASX:CBA) data highlighted that shoppers would spend AU$4 billion this year.
As the nation gets back on its track, Aussie shoppers are excited to hit a good bargain.
Suggested reading: ASX 200 opens in green; CBA, CSL top gainers
Aussies are moving towards online shopping from the offline store with the surge in the COVID-19 cases, as advised by Paul Zahra, Australian Retailers Association chief executive.
Commonwealth Bank research highlights
CBA research indicated that 69% of Australians are expected to spend AU$4 billion for buying single or multiple items. The sales are higher by 14% than the previous year.
57% of the sales is expected from the shoes, apparel and new clothes category and 18 to 29 age female group is estimated to be the biggest shoppers in this category.
Technology becomes the second-largest category with 36% of sales coming from this category. The tech enthusiasts are males in the age group of 30 to 39 that will become the tech buyers.
White goods and home electricals make 31% of the sales and 29% of sales is expected to come from the furniture category.
Moreover, the research data indicated that 41% of Australians will rush to the stores and 28% plan to hit the sales through both online and in-store.
Bottom Line
As COVID-19 related restrictions are eased, and Boxing Daty sales is around the corner, it is recommended that shoppers should follow all the safety guidelines as a new variant has also hit the market.
