Good news for retail sales during the Easter trading period, with shoppers predicted to splash almost $3.4 billion nationwide.
Spending for Easter is expected to rise this year compared to the same period in 2018, with shoppers set to spend almost $3.4 billion nationwide over this coming long weekend, a 2.24 percent increase year-on-year.
NRA CEO Dominique Lamb said although the retail sector is struggling this year, this projected spend will surely come as good news for retailers.
“The NRA is delighted to forecast that this year shoppers are set to splash almost $3.4 billion nationwide during this Easter holiday,” Dominique Lamb, CEO, National Retail Association.
While hot cross buns seemed to hit the supermarket shelves when New Years’ Day rolled around, the majority of sales will be occurring this week.
“Although the Easter trading period is shorter than the Christmas period, this holiday is still recognised as a busy trading event for retailers,” said Russell Zimmerman Executive Director of the Australian Retailers Association.
“We predict that sales of traditional Easter items including hot cross, buns, seafood, fresh produce, liquor and of course chocolate to increase during throughout this time, which is a welcome fillip for specialist retailers who sell these products,” Zimmerman added.
With Easter arriving later in 2019 than last year, Zimmerman said he expects retailers to experience higher sales during this time.
“Just like Christmas, Easter is a key trading period for retailers,” Zimmerman explained. “With the colder season upon us, many retailers will be busy preparing their stores with new season fashion for winter.”
Food and beverages, and holiday and travel are the largest beneficiaries of the Easter holiday spending projections, with a 1.8 percent and 3 percent growth respectively. The growth is related to the proximity of Anzac Day and Easter long weekend.
“Consumers will spend around $1.5 billion on holiday and travel this year,” Lamb said. Consumers are also projected to spend $28.7 million on fish and seafood, $157.2 million on alcohol and $7.3 million on eggs (chicken).
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