Australians who’ve left their Christmas shopping to the last minute are in for a world of pain as millions are set to go on a late spending spree across the country.
Shoppers are expected to head to the shops in droves in the five days leading up until Christmas, with more than 30 million transactions to occur across that timeframe according to NAB credit and debit card data.
December 23 is set to be the busiest day of the festive season, with Australians set to spend $4.8 billion in 24 hours.
Shoppers in some Melbourne and Sydney suburbs are the top in the country, with Victorians spending $547.5 million in 2021, followed by NSW residents at $529.7 million, and Queenslanders at $422.8 million. Picture: NCA NewsWire / John Gass
NAB predicts that figure is up 15% from the same day in 2021 when $4.2 billion was spent.
A large portion will come from workers making a lunchtime dash for presents, with more than $400 million to be spent in that 60-minute window between 12pm and 1pm, compared to the hourly average of $200 million across the rest of the day.
The last-minute rush hasn’t been helped by Christmas being held on a weekend according to NAB executive Kylie Young.
“With Christmas this year falling on a Sunday, plenty of us will be leaving our shopping until Friday and embracing the last-minute rush, especially at lunchtime,” Ms Young said.
While online shopping continues to grow in popularity, 80% of transactions are likely to happen in bricks-and-mortar stores. Picture: NCA NewsWire / Aaron Francis
“It can be easy to get swept up in the excitement and overspend, or buy more than you need, which is why it’s important to set a budget and have a plan, both of what to buy and how you’ll pay.”
Shoppers in some Melbourne and Sydney suburbs are the top in the country, with Victorians spending $547.5 million in 2021, followed by NSW residents at $529.7 million, and Queenslanders at $422.8 million.
In Victoria, the top shoppers live in Point Cook, followed by Melbourne, Brighton, Berwick and Werribee.
In NSW, following Mosman, the state’s top shoppers live in Dubbo, Port Macquarie, Orange and Sydney.