Aussies Embrace Gadgets and Glam this Christmas

Australians are really getting into the holiday spirit this Christmas, with retail spending on the rise by 7.4%, as reported by Visa’s Retail Spend Monitor. It looks like gadgets and glam are the go-to gifts this season, with electronics and apparel taking center stage.

Between 1 November and 20 December 2024, Aussies have been on a shopping spree, especially when it comes to clothing, which saw a whopping 14.6% increase compared to last year. But it’s not just about spending more—it’s about shopping more frequently, with shoppers bouncing between stores to snag the perfect festive fashion finds. And let’s not forget about electronics, which continue to be a holiday favorite. Interestingly, Aussies seem to prefer shopping in-store for those big-ticket gadgets, with basket sizes being 36% larger compared to online purchases.

Despite the pressures of the cost of living, Australians are showing strong retail activity during this festive season. David Peacock, Head of Visa Consulting & Analytics for Visa ANZSP, highlights a mix of factors like resilient employment, wage growth outpacing inflation, and optimism about interest rates contributing to this spending boost.

The impact of Black Friday and Cyber Monday sales has been significant, with sales during the four-day shopping frenzy jumping by 9.8% year on year. Online purchases saw a 14% increase, and interestingly, shoppers started their spree earlier this year, with spending the week before Black Friday climbing by 11.3%.

Black Friday seems to be becoming a cornerstone of Christmas shopping, pushing Australians to kickstart their gifting list.

Taking a closer look at state spending trends:

– New South Wales & Victoria lead in total spending, accounting for over 55% of national retail sales.
– Queensland & Western Australia are the stars of the season, with retail spend rising by 8.8% and 9.8%, respectively.
– The ACT is lagging slightly, with physical store sales growing by just 2.3%, although online purchases rose by 9.8%.

With the increase in transactions, fraudsters are on the prowl, working overtime to steal your information. Visa offers some simple tips to keep your holiday shopping secure:

– Enable transaction alerts to keep track of your spending in real time.
– Use secure payment methods and protect your PIN.
– If you lose your card, report it immediately and check your statements for any unusual charges.

As Australians gear up for a season of spirited spending, they’re combining tradition with technology to create the perfect holiday shopping experience. Whether it’s a chic new wardrobe or the latest gadget, one thing is clear—Australians are going all out this Christmas.