News & Press: Power Retail News

CommBank Says Aussies Will Spend $10.7 Billion on Gifts Alone

Sunday, 9 December 2018  
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While previous predictions have estimated spending to reach $51 billion this Christmas, CommBank says that of that, consumers will spend $10.7 billion on actual gifts.

The 2018 Commonwealth Bank Christmas Consumer Spending Study has found that 85 percent of Millennials will spend up to $1,000 on gifts, while a further 15 percent will spend more than $1,000. It’s also estimated that 31 percent of these shoppers will leave their shopping until less than a week before Christmas Day, with two million Aussies expected to flock in-store on Christmas Eve to get their last-minute gifts. Read more...