With under three weeks to go, the Christmas countdown has well and truly begun. But while presents are high on peoples’ shopping lists, food and drink accounts for almost half of what Australians spend during the festive period.
According to figures released by the Australian Retailers Association (ARA), shoppers are expected to spend an eye-popping $19 billion on food nationally this pre-Christmas season. That's 40 per cent of our total retail purchases in the period between November 15 and December 24, and doesn't include what we spend at restaurants and bars.
A further $7 billion is expected to go into the hospitality sector across the country, driven by a 6 per cent increase in friends and families eating out this year when compared with last year.
In 2015, Australians spent a whopping $25.6 billion on food and hospitality services combined, but this year’s total is predicted to be even higher at around $26.3 billion.
To put things in perspective, we're expected to hand over $21.7 billion nationally on online shopping, household goods, clothes, hairdressing, gambling and other presents.
Source: ARA
ARA Executive Director, Russell Zimmerman tells SBS, "Australians spend significantly more in the 5 weeks leading up to Christmas than any other period. Food and drink accounts to approximately 40 per cent of the total Christmas spend with Australians attending various Christmas parties during the festive season."
When compared to the rest of the world, Australians spend more money on Christmas-time food than shoppers in the US, UK and Canada.
Figures featured in show that Australians fork out 21 per cent more money on food in December than the other 11 months of the year.
Italy and France splurge even more but they don’t out-do us by far, spending 29 and 28 per cent more on food respectively in December when compared to the rest of the year.
The Australian Retailers Association is predicting plenty of spending on all fronts this month, tipping a total shopping spend of more than $48.1 billion over the Christmas trading period. That follows Friday's announcement by the ARA of 3.5 per cent growth, seasonally adjusted (year on year), in October.
Australians spend 21 per cent more money on food in December than in the other 11 months of the year Source: Quartz
festive food
Traditional gingerbread men
