Boxing Day shoppers expected to spend record amount in 2019

One of Australia's leading retail groups is predicting Boxing Day sales will hit a record this year, following weaker-than-expected Christmas buying. Key points: Boxing Day sales are expected to lift in every state and territory Consumers have been reluctant to spend in the lead-up to Christmas despite record-low interest rates and tax cuts IBISWorld predicts consumer sentiment will fall by 4.6 per cent in 2019-20, while household discretionary income will decline by 0.7 per cent. "The National Retail Association forecasts that Aussie shoppers will splash more than $2.6 billion in cash nationwide, eclipsing all previous Boxing Day sales records," its chief executive Dominique Lamb said. She said sales for all retail segments were expected to be up on last year, with Boxing Day sales increasing across every state and territory. It said post-Christmas, growth in retail expenditure was predicted across six categories measured, with spending on food expected to grow by 2.8 per cent from a year ago to more than $7.7 billion.