$50,000 A Minute In Online Xmas Sales Claims NRA
Expect Christmas online retail sales to reach $50,000 a minute this Holiday period as the National Retail Association (NRA) predicts a whopping $50 billion across all retail.
The utilisation of both in-store and online retail is the driving factor for this massive sale expectation, said NRA CEO Dominique Lamb, with total digital spending to reach $3.6 billion over the six weeks
Lamb is predicting ‘plenty of action’ for retail stores with the NRA predicting retail expenditure to ‘easily surpass the $50 billion barriers’.
Matching estimates from the Australian Retailers Association (ARA) with the executive director, Russell Zimmerman forecasting retail spending of almost $53 billion between 14 November and 24 December.
It comes despite research from Deloitte revealing a drop in positive sentiments for retailers with only 62% expecting to see higher sales for Christmas, down by 18% from last year.
In fact, as covered by ChannelNews, 40% expect to see some form of marginal decrease during Christmas, with 39% having to introduce discounts in the lead up to the holidays as a means to help drive sales.
The research does indicate a boom in online retail and impulse purchases, though many retailers appear to be ‘approaching this Christmas with a little less cheer, certainly compared to last year’.
Mr Zimmerman does have his concerns warning the high sales maybe, ‘predicated on the regions’ getting lucky’ by avoiding bushfires or other natural disasters’.
‘Thousands of our members – their families, their employees, their communities – are located outside major cities in areas threatened by disasters like this, so we know many of them and feel for them all’.
According to NSW RFS Deputy Commissioner Rob Rogers, over 400 homes have been destroyed due to bushfires, compared to only 37 houses destroyed last year.
While Ms Lamb believes businesses offering ‘a unique in-store experience, coupled with a savvy online sales avenue’ will be ‘the ones who break new ground’.
The NRA is so excited for Christmas and Black Friday, they’ve even set up a retail site with everything you need for your holiday shopping.