The National Retail Association says it will be the biggest single spending day of the Christmas season as savvy shoppers take to the shops to hunt down a bargain.
Online spending is also set to be popular with $930 million in digital sales anticipated throughout Australia.
Discounts of up to 70 per cent are expected with shoppers reminded to be socially distant and prepared for COVID-19 restrictions.
NRA chief executive Dominique Lamb said this year’s Boxing Day is set to smash all records following increased spending forecast across every state and territory.
“The NRA is forecasting a Boxing Day shopping splurge of $2.75 billion at shops across Australia, breaking the 2019 record,” she said.
“With consumer sentiment at a 10-year high, we have really seen shoppers splash the cash in the lead-up to Christmas, and this will continue on Boxing Day.”
Lamb said the sales would cap off a difficult year for retailers with the COVID-19 restrictions.
“But because Australians have been unable to travel, they are spending money domestically at this time, and it is much-needed money, for our retailers have had many difficult months.”
Lamb also provided tips for consumers on navigating bustling crowds and making the shopping experience as convenient as possible.
“Doing some basic homework before heading to the shops can make Boxing Day a lot easier.”
FORECAST RETAIL SALES FOR BOXING DAY SALES:
* $914 Million NSW
* $858 Million Victoria
* $467 Million Queensland
* $134 Million South Australia
* $235 Million Western Australia
* $59 Million Tasmania
* $28 Million Northern Territory
* $57 Million ACT
* $2.75 Billion national total
* 5 per cent increase nationally from 2019
* Figures supplied from the National Retail Association