Australians are diving into the holiday spirit, with retail spending surging 7.4% in the lead-up to Christmas, according to Visa’s inaugural Retail Spend Monitor. Electronics and apparel are stealing the spotlight, reflecting a season of style and tech-savvy gifting.
From 1 November to 20 December 2024, Aussies have embraced the shopping frenzy, with clothing spend soaring 14.6% compared to last year. Shoppers aren’t just spending more—they’re shopping more often, hopping between stores to fill their baskets with festive fashion. Meanwhile, electronics remain a holiday favorite, with a notable trend: Aussies prefer to shop in-store for high-value gadgets, where basket sizes are 36% larger than online purchases.
“Despite cost-of-living pressures, Australians are showing strong retail activity,” said David Peacock, Head of Visa Consulting & Analytics for Visa ANZSP. “A mix of resilient employment, wage growth outpacing inflation, and optimism about interest rates has contributed to this spending boost.”
Black Friday’s growing holiday impact
The Black Friday and Cyber Monday sales juggernaut continues to reshape holiday shopping habits. Sales over the four-day shopping spree jumped 9.8% year on year, with a 14% spike in online purchases. Interestingly, shoppers started earlier this year, with spending the week before Black Friday climbing 11.3%.
“Black Friday is becoming a cornerstone of Christmas shopping, encouraging Australians to get a head start on their gifting,” Peacock noted.
State spending snapshots
- New South Wales & Victoria: These states lead in total spending, accounting for over 55% of national retail sales.
- Queensland & Western Australia: Growth stars of the season, with retail spend rising 8.8% and 9.8%, respectively.
- ACT: Lagging slightly, physical store sales grew just 2.3%, though online purchases rose by 9.8%.
Staying safe in the festive frenzy
With the uptick in transactions, fraudsters are working overtime. Visa offers simple tips to keep holiday shopping secure:
- Enable transaction alerts to track your spending in real time.
- Use secure payment methods and guard your PIN.
- Report lost cards immediately and check statements for unfamiliar charges.
“This season, Australians are exploring new stores and hunting for the best deals, making it vital to shop safely,” Peacock emphasized. “As scams grow more sophisticated, vigilance is the best gift you can give yourself.”
Visa’s report highlights a season of spirited spending, with Australians blending tradition and tech in their quest for the perfect holiday haul. Whether it’s a chic wardrobe upgrade or the latest gadget, one thing’s clear: this Christmas, Australians are going big.
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Australians are diving into the holiday spirit, with retail spending surging 7.4% in the lead-up to Christmas, according to Visa’s inaugural Retail Spend Monitor. Electronics and apparel are stealing the spotlight, reflecting a season of style and tech-savvy gifting. From 1 November to 20 December 2024, Aussies have embraced the shopping frenzy, with clothing spend News Dynamic Business
