Retailers expect $39b Christmas spend-up

Retailers are expecting a "fair, not great" Christmas sales period with a total
spend-up of $38.7 billion.

The Australian Retailers Association (ARA) said nearly three quarters of retailers
found last week's traditional start to the Christmas trading period either met or
was below expectations.
"After a year of patchy growth, retailers were optimistic of a fair, not great 2009
Christmas period," ARA Executive Director Russell Zimmerman said in a statement on
Tuesday.
Retail sales are expected to have grown 4.7 per cent over the year.
Last year's Christmas spend was $36.95 billion.
"Although last week's trading did not rise above expectations for most retailers, 65
per cent said last week's trading was similar to or better than this time last
year," Mr Zimmerman said.
"The fact that retailers are expecting better sales than last year but are not yet
meeting their targets shows there is optimism, although a significant portion of
retailers are still hampered by patchy trade."