Go Team Australia for “not letting Santa down”
By Vic Saule
Despite retail business’ fears of a dwindling consumer market, there was a slight increase in the amount of money spent by Sydneysiders in the lead up to Christmas.
Yes Sydney, in spending an average of $2500 (surely not all of that could be spent on McDondalds) in the six weeks leading up to Christmas, we have managed to strengthen the economy, keep 10% of the working population employed and as Joe Hockey so eloquently put, “not let Santa down.”
In total, the overall amount spent by Sydney consumers before Christmas this year comes to $45 billion, according to data from the Australian Retailers Association.
While physical shopping centres remained unusually quiet, Internet shopping has become increasingly popular.
Faced by slow business, many stores brought their Boxing Day Sales forward, if you haven’t yet noticed the onslaught of promotional emails advertising them over the last week.
"A lot of retailers depend upon the Christmas and new year period sales," chief executive of the ARA, Russell Zimmerman, told the ABC.
"They often get around 60 per cent of their sales at this time of the year so it's an extremely important time for them.
So far, technology has been the most important kind of item bought this year.
The post-Christmas Boxing Day Sales hope to generate $2.1 billion for retailers on Boxing Day alone, in order to help many businesses recover after a rough year of more money-conscious, responsible consumers.