Boxing Day forecast high despite worries

Stock image.
Stock image.

ONE of Australia’s leading retail groups has forecast a bumper Boxing Day, despite a negative consumer outlook.

The National Retail Association says it expects Aussie shoppers to spend $2.62 billon during this year’s sales.

Survey reports from Commonwealth Bank, ANZ, Roy Morgan and the Australian Retail Association have all predicted a tough season for retailers, with consumers focused more on spending on travel and experiences.

But reports of an increase in foot traffic in some stores is a source of confidence says NRA boss Dominique Lamb.

“We do work collectively with a number of organisations around this particular data and most years we’re pretty close to being on the money,” she said on Christmas Eve.

Online shopping sales are forecast to increase by 23.6 per cent on last year’s results to $655 million.