Australian shoppers spent $2.5 billion on boxing day sales
While Christmas celebrations were underway in other countries, Australia’s retail industry was booming, seeing shoppers spend $2.5 billion on boxing day sales.
Australia’s retail industry was booming on Wednesday, seeing boxing-day shoppers spend $2.5 billion on sales.
The annual sales started at 6am for some stores including retail favourites, Myer & David Jones.
Myer promised boxing-day sales of up to 60% off, seeing shoppers line up from the crack of dawn hoping to snap up a bargain.
Myer’s Retail Operations Director Tony Sutton expected Myer would get more than 2 million visitors on boxing day.
Australian retail stocks have posted significant gains after boxing day sales, with Myer Holdings Ltd, JBHIFI, David Jones and other major retailers performing positively upon market open on Thursday.
Meanwhile, many shoppers also chose to snap up sales online, with worldwide Amazon sales seeing record-breaking numbers.
Amazon sees record-breaking sales
Amazon says over $1 billion items were shipped for free this holiday season with Prime.
According to Mastercard’s Spending Pulse report, online sales jumped 19.1% from November 1st through to December 24 - the peak christmas period.
Reports say online sales for US department stores grew 10.2% during the holiday season, with Amazon.com up 14.9% YTD. Amazon.com 's online shares were up 5% at $1.410 on Thursday morning.
CEO of Worldwide Consumer Jeff Wilke said :
'This season was our best yet, and we look forward to continuing to bring our customers what they want, in ways most convenient for them in 2019. We are thrilled that in the U.S. alone, more than one billion items shipped for free this holiday with Prime,'
'Thank you to our employees all around the world who are committed to bringing our customers the widest selection of products with low prices and fast and free delivery options throughout the holidays and all year long.' Mr Wilke said.
During the holiday season, customers purchased millions more Amazon devices than last year, with Amazon reporting 2018 as one of its best holiday seasons.
According to amazon, customers purchased more Echo Dot Kits Edition and Fire Kids Edition tablets than ever before.
This information has been prepared by IG, a trading name of IG Markets Ltd and IG Markets South Africa Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.
Live prices on most popular markets
- Forex
- Shares
- Indices
Prices above are subject to our website terms and agreements. Prices are indicative only
