5 in 10 Australians already buying Christmas gifts

Holiday spending on presents is forecast to hit $11.8b this year.

Australians are diving into Christmas shopping earlier than ever in 2024, with over half (53%) having already bought gifts by mid-October, according to Roy Morgan data commissioned by the Australian Retailers Association (ARA).

Holiday spending on presents is forecast to hit $11.8b this year, up $1.6b from 2023.

A total of 16.7 million Australians will be buying gifts this season—1% more than last year. Each shopper is expected to spend an average of $707, a $61 increase from 2023.

“With Australians continuing to battle a cost-of-living crisis, we know more people are planning ahead this year and carefully researching to find gifts at the best available prices,” Brown said.

She said that overall holiday spending is projected at $69.7b, a 2.7% rise from last year, which Brown says is vital for retailers who depend heavily on peak season profits.

The biggest-spending group is Australians aged 35-49, who will spend an average of $965 each, totaling $4.4b—up $700m from last year. Meanwhile, 63% of shoppers plan to spend the same as last year, with 29% planning to cut back.
Food spending will also see a boost, with Australians set to spend $28b on festive meals, up 4.2% from last year.

Retailers are vying for consumer dollars by offering new products, festive store makeovers, and improved online services. Black Friday and Cyber Monday are expected to break records, with Australians projected to spend $6.7b—up 5.5% from last year—as they seek out sales deals.

“This Christmas will be more important than ever for retail,” Brown said, noting the intense competition and the importance of peak-season spending in an otherwise tough year for the sector.