Australians are tipped to spend $23.9 billion in this year's much-anticipated Boxing Day sales - around $400 million more than in 2022 - as shoppers turn their attention to bargain hunting to save money.
Research by the Australian Retailers Association (ARA), in conjunction with Roy Morgan, forecasts post-Christmas period spending (December 26-January 15) will increase 1.6% year-on-year.
Department stores are predicted to drive the greatest growth - up 4.8% year-on-year. Clothing (up 3.4%) food (up 2.7%) and other retailing (up 2.3%) are also tipped to record sales growth.
Household goods spending is forecast to increase up 0.8% while hospitality is set to decline 3.3%.
South Australia is predicted to record the biggest growth in sales on last year (up 2.7%), followed by Victoria (up 1.9%), Tasmania (up 1.7%), Western Australia, Queensland and New South Wales (up 1.4%), Northern Territory (up 1.3%) and ACT (up 0.6%).
Consumers in New South Wales are forecast to spend $7.5 billion in the post-Christmas period, with Victorians to spend $6.1 billion.
ARA CEO Paul Zahra said this year's highly anticipated Boxing Day sales are likely to deliver promising results, despite economic conditions and cost-of-living pressures.
"Boxing Day is the Grand Final of shopping, and many Australians will be desperate to cash in on the biggest clearance event of the year," Mr Zahra said.
"Black Friday and Cyber Monday weekend demonstrated that shoppers will still spend if they feel that they're getting a great deal - and the sentiment towards the Boxing Day sales will be similar."
Mr Zahra said the transition from Christmas to Boxing Day also represents a change in shopper behaviour.
"In the lead up to Christmas, shoppers are focused on buying gifts for their family and loved ones. Post-Christmas, Australian's typically turn their minds to purchases for themselves and their household," Mr Zahra added.
"Shoppers can expect enticing bargains as retailers move to clear stock - especially if they haven't traded to expectations throughout the Christmas period."
"Consumers can expect great deals both online and instore. Retailers will have extended trading hours to ensure that consumers are able to take advantage of the great deals on offer".
ARA/Roy Morgan Post-Christmas Sales (Retail Categories)
The results are measured from Boxing Day until 15 January 2024
| Category | 2022 Post-Christmas Sales ($m - seasonally adjusted) |
2023 Post-Christmas Sales forecasts ($m - seasonally adjusted) |
Growth % vs 2022 (Seasonally adjusted) |
| Food | $9.381 | $9,641 | +2.8% |
| Household Goods | $3,916 | $3,946 | +0.8% |
| Clothing | $1,941 | $2,006 | +3.4% |
| Department Stores | $1,219 | $1,277 | +4.8% |
| Other Retailing | $3,587 | $3,668 | +2.3% |
| Hospitality | $3,511 | $3,395 | -3.3% |
| TOTAL | $23,554 | $23,934 | +1.6% |
| Non-Food | $14,174 | $14,293 | 0.8% |
ARA/Roy Morgan Post-Christmas Sales (States and Territories)
The results are measured from Boxing Day until 15 January 2024
| State/Territory | 2022 Post-Christmas Sales ($m - seasonally adjusted) |
2023 Post-Christmas Sales forecasts ($m - seasonally adjusted) |
Growth % vs 2022 (seasonally adjusted) |
| NSW | $7,458 | $7,565 | +1.4% |
| Victoria | $6,041 | $6,154 | +1.9% |
| Queensland | $4,824 | $4,893 | +1.4% |
| South Australia | $1,512 | $1,552 | +2.7% |
| Western Australia | $2,598 | $2,635 | +1.4% |
| Tasmania | $472 | $480 | +1.7% |
| Northern Territory | $212 | $215 | +1.3% |
| ACT | $438 | $441 | +0.6% |
| TOTAL | $21,554 | $23,934 | +1.6% |
