Shopping centres are throwing their doors open for extended hours to cash in on a record Christmas spending spree. Australians are expected to splash more than $60 billion in the lead-up to the big day, but a retail slow down looms.
If like half of Australians you have left your Christmas shopping until the last minute you certainly are not alone. The eight straight rate rises by the Reserve Bank of Australia hasn’t seemed to dent Christmas spending so far this year. The pre Christmas spend is now expected to reach $66 Billion dollars according to the Australian Retailers Association. Shopping centres are cashing in with extended trading hours to help you in your Christmas gift quests.
Even though there was a huge hype around the Black Friday sales it is the Boxing Day sales that still attract the biggest crowds.
However the spending hangover is predicted to hit retailers hard in the new year with a predicted tough start to 2023 for retailers.
