The annual Christmas and Seasonal Retail Trends Report led by the Monash Business School’s Australian Consumer and Retail Studies (ACRS) has found 91 per cent of Australians are planning to splurge more on Christmas gifts for loved ones this year compared to 88 per cent in 2023.
A Monash expert is available to discuss Christmas shopping trends in 2024.
Ms Stephanie Atto, Department of Marketing, Monash Business School
Contact: +61 3 9903 4840 or media@monash.edu
Read more of Ms Atto’s commentary at Monash Lens
The following can be attributed to Ms Atto:
“Christmas retail seems to begin earlier each year and 2024 is no exception.
“The main beneficiaries of Christmas gift giving this year are our nearest and dearest. Christmas shoppers plan to buy the most for immediate family (89 per cent), extended family (28 per cent) and friends (35 per cent).
“Average spend is highest for immediate family ($474), extended family ($277) and friends ($175), and is expected to increase year-on-year for these loved ones.
“When it comes to Christmas gifting, purchased gifts will be the most popular present followed by money, while some Aussies will give handmade gifts to others – especially to extended family, friends and colleagues.
“Physical stores remain the most popular channel for Christmas purchases in 2024, with 84 per cent of Australian shoppers planning to visit stores to do their Christmas shopping.
“Half of Aussie shoppers (50 per cent) expect to purchase clothing, footwear and accessories as part of their Christmas shopping. Other popular products purchased for Christmas this year include gift cards and vouchers (36 per cent), food and beverages (35 per cent), books and stationery (34 per cent), toys and games (33 per cent), and personal care items (28 per cent).”
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