ARA and Roy Morgan forecast Christmas spending to exceed $51b
The Australian Retailers Association (ARA) and market research group Roy Morgan expect a "bountiful" Christmas this year for stores specialising in electronics, with consumers of all ages set to indulge in new gadgets and technology.
Electronics and hi-fi products fall under the groups' 'Other retailing' category which is set for year-on-year growth of 2.7 per cent.
Overall the ARA expects Australians will spend more than $51 billion over the Christmas trading period from 9 November to 24 December.
While traditional models will be tested by the rise of e-commerce, ARA executive director Russell Zimmerman says shoppers will be turning to retail stores to tick presents off their lists.
"With the festive season commencing in less than two days, most Aussies will be in the process of setting-up their Christmas lights and decorating their Christmas trees in preparation for the upcoming festivities," says Zimmerman.
"Likewise, retailers have also followed suit, embellishing their store windows with captivating displays and offering a variety of new and exciting products for consumers to spoil their loved ones with."
Neto CEO Ryan Murtagh further explains the rise in popularity of electronics."Being connected is now cheaper, easier and cooler than ever before," says Murtagh. Read more
Matt Ogg - Business News Australia - 29 November 2018