Australian shoppers adopt new strategy for Boxing Day sales
The thrill of bargain shopping is no longer the strongest draw for the post Christmas sales period
2 min
Cost of living pressures are expected to impact Boxing Day sales with more Australians planning to spend less, new consumer research shows.
The survey conducted on behalf of the Commonwealth Bank showed almost one in two people, or 49 percent of Australians, expect to spend during the annual post Christmas sale period, up from 42 percent last year and 40 percent in 2021. However, the average planned spend this year is expected to be $475.70, or $4.6bn nationally, down from $483.20 in 2022 and $557.05 in 2021.
People under the age of 39 are most likely to spend over this period as they use the sales to buy necessities, CBA chief economist Stephen Hlamarick said.
“The increase we’ve seen in spending at discount and variety stores in November is partly explained by Christmas and holiday shopping with discretionary spend up 1.9 percent,” he said. “However, people are also using the sales to stock up on essentials – with essential spending edging up 0.3 per cent.
“Essential spending usually falls after the “gift giving” period. However, given consumers are clearly seeking sales bargains for both essential and discretionary items, Boxing Day sales could also see a similar trend with a larger share of essential spending.”
CBA personal finance expert Jess Irvine said it was important for shoppers to have a plan before heading out.
“For anyone planning to use Boxing Day as an opportunity to bag a bargain, it is important to have a clear plan in advance of which items you plan to purchase. Write a list and stick to it to limit impulse purchases” said Ms Irvine.
“A good rule of thumb is that if the first time it occurs to you to purchase something is during a sale period, you probably don’t need it.
“If you are stocking up, make sure to do your research and check first for any cashback offers that may be available for that retailer.
She also warned to be wary of suspicious text messages or online scams.
“Stay scam aware when shopping, as scammers are known to be more active during sales periods,” Ms Irvine said. “Always remember to remain cautious, especially at this busy time of year, and stop, check and reject any suspicious websites or text messages.”
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Australian shares fell on Thursday as Wall Street weakness, rising oil and persistent rate concerns weighed on most of the market. The S&P/ASX 200 declined 0.72 per cent to 8,702. The All Ordinaries lost 0.66 per cent to finish at 8,897. Mining stocks were hit particularly hard, while real estate also dragged on the index. …
Continue reading “ASX falls 0.7 per cent as miners and property stocks retreat”
2 minAustralian shares fell on Thursday as Wall Street weakness, rising oil and persistent rate concerns weighed on most of the market.
The S&P/ASX 200 declined 0.72 per cent to 8,702. The All Ordinaries lost 0.66 per cent to finish at 8,897. Mining stocks were hit particularly hard, while real estate also dragged on the index.
Energy was the notable exception, gaining more than one per cent as Brent crude traded above US$103 a barrel. Oil had moved higher amid uncertainty surrounding potential US diesel-export restrictions and broader geopolitical supply risks. The move supported energy producers but renewed concern about inflation inputs across transport and the wider economy.
Gold shares were weak even as spot bullion remained historically elevated. The All Ordinaries Gold index fell about 2.25 per cent, showing that equity performance can diverge from the commodity because of valuation, currency, operating and company-specific factors.
Zip was a prominent loser, falling 11.38 per cent after the company reported short sales after the previous close. Nine Entertainment also weakened after UBS analysts warned of near-term revenue challenges associated with its advertising-supported subscription tier.
Premier Investments led larger winners despite caution about the retail environment. Breville, in which Premier owns a significant stake, also appeared among leading movers. In the broader ASX 300 screen, Myer gained 11.43 per cent and MAAS Group rose 7.93 per cent, while Lotus Resources fell 10.53 per cent. These percentage moves should be checked against company announcements and trading liquidity before attributing causes.
The Australian dollar was broadly flat at US70.38 cents. Spot gold was around US$4,280 an ounce, Brent crude approximately US$103.08 a barrel and iron ore near US$96.90 a tonne late in the session.
The rate outlook remains the central domestic catalyst. Labour-market weakness has not eliminated the possibility of an RBA increase next week, leaving banks, listed property and other rate-sensitive sectors exposed to changing expectations.
Market dashboard
S&P/ASX 200: 8,702, down 0.72 per cent.
All Ordinaries: 8,897, down 0.66 per cent.
Best sector: Energy, up more than one per cent.
Weakest areas: Real estate and materials were the major drags; confirm final sector percentages before publication.
Material winner: Premier Investments led the large-company gainers. Confirm its final closing move from the ASX before publication.
Material loser: Zip, down 11.38 per cent.
ASX 300 percentage leader: Myer, up 11.43 per cent.
ASX 300 percentage laggard: Zip, down 11.38 per cent.
AUD/USD: Approximately US$0.7038, broadly flat.
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