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Sydney. Thousands of Australians queued overnight to be first through the doors at annual post-Christmas sales, with retailers predicting almost $15 billion would be spent.

Hard-core bargain hunters began gathering from midnight outside the nation’s major department stores to ensure their spot at the head of the queue for traditional post-Christmas discounts.

Consumer confidence has improved from last year, when the country was feeling the effects of the global financial crisis, and the Australian National Retailers’ Association said it was cautiously optimistic.

“We’ve had a fabulous healthy start to Boxing Day sales which is after all the biggest shopping day of the year,” association chief Margy Osmond said.

“Thirty percent of annual revenue comes from the Christmas/New Year period and with an estimated $14.7 billion to be spent nationally in the sales it’s a good start to the New Year for retailers.”

The figure is more than double last year’s forecast of $6.3 billion, when shoppers were armed with $10.4 billion in government stimulus cash aimed at cushioning the economy from the worldwide slump.

“This year, Australians are spending their own money at the sales, and while there is higher confidence, there’s still a reluctance to spend big,” Osmond said.

Shoppers were expected to part with an average $250 each, the association said, with clothing, electronics, televisions and cookware among the most sought-after items.

Australia was the only major Western nation to avoid slipping into recession during the global slump, posting world-beating growth on the back of government stimulus worth more than $70 billion and a strong performance from its major Asian trading partners.



Agence France-Presse