More than half of consumers will spend between $100 and $500 on presents this year, with gift cards expected to be one of the most popular items.
According to the Retail Council’s latest Christmas Spending Index, more than 36 per cent of shoppers are likely to purchase a gift card this year – up from 18 per cent in 2012. Clothing and books are the next most popular items at 34 per cent and 30 per cent respectively.
The Retail Council is forecasting more than $7.37 billion to be generated in sales this week as consumers move their Christmas shopping into second gear.
The Retail Council’s Christmas Spending Index forecasts spending in the 30 days to Christmas to reach $35 billion and is in a slightly stronger position compared to last year. Around
The table below provides a breakdown by state across the 30 days to Christmas (November 24 to December 24) and expected spending in the second week (November 30 to December 30).