Retail Boss Predicts Slow Christmas
The Executive Director of the Australian Retailers Association, Russell Zimmerman, has revealed that research forecasts for post-Christmas retail trade is anticipated to be slow.
While the research, conducted by ARA/Roy Morgan Research, suggests a quieter holiday period, it also suggested the embattled retail sector is poised to have a strong return in 2020.
‘These figures suggest quieter post-Christmas retail trade than we would have hoped,’ Zimmerman told an event for the release of the joint research outcome.
‘That being said, there are some positives here, and reason to think the sector is poised to rebound in 2020.’
Zimmerman claims Australians will spend almost $19billion from Boxing Day to 15 January next year – a mild growth from 2019’s growth.
Speaking on the research, Zimmerman said the forecast of 2.3% of retail sales growth from thee 2018-19 period concluded a difficult year for the sector, but was still hopeful for a strong comeback.
‘Sales of household goods, clothing, footwear and accessories, and department store trade, are all forecast to be stronger this year… which suggests people may be waiting for sales,’ he claimed.
‘We’ve also just come through a period that has included Singles’ Day, Click Frenzy, Black Friday and Cyber Monday in quick succession, [which] are likely to dampen post-Christmas demand.’
The traditional Boxing Day ‘stampede’ provides an opportunity for consumers to find retail bargains, he said.
Zimmerman also hopes that Australians will support local retails as they indulge in summer holiday spending over the rest of the break.
‘We wish all retailers – and all Australians – a safe and prosperous 2020, and wish everyone the best for the New Year.’