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During the 2023 November to Christmas trading period, spending on food across Australia was expected to come to around ** billion Australian dollars. In comparison, spending in department stores during the pre-Christmas sales was forecasted to amount to just over *** billion Australian dollars, with predicted total spending of over ** billion Australian dollars in 2023.

Christmas gift shopping

Australian consumers started their Christmas shopping early in 2023, with over ** percent of , some even anticipating being done as early as October. Immediate family members and friends were the for those purchasing presents during the 2023 holiday season, with the top reasons for buying a gift for someone being to show love and care and to put a smile on someone’s face. Over ** percent of during the 2023 holiday season, with around ** percent planning to purchase gift cards or vouchers.

How inflation stole Christmas

Nonetheless, inflating prices and lower disposable income have put a spanner in the works for many households across Australia during the 2023 Christmas period, with several consumers planning to rein in spending. , including cutting back on personal expenditures, such as eating out, using loyalty points, and utilizing BNPL services, such as Klarna and After Pay, to afford spending more over the holiday period. Others decided to focus more on purchasing cheaper gifts, secondhand gifts, and fewer gifts, with over ** percent of .