Bricks-and-mortar retail sales for Christmas set to peak between December 20 and 22: Commonwealth Bank

Online retailers will experience their highest volume of Christmas sales from December 7-10, according to a new survey, while sales for offline retailers will peak closer to Christmas Day. 

The findings come from the Commonwealth Bank, which surveyed more than 1,000 Australian consumers to determine where and when they will spend their money this Christmas. 

According to the survey, the average Australian is planning to spend $475 on gifts alone, equating to a total consumer spend of $7.8 billion nationwide. 

Overall, Australians are tipped to spend more than $16.2 billion on everything from festive holiday trips to the Boxing Day sales. 

Interestingly, consumers are planning to buy the vast majority (70%) of their Christmas gifts at bricks-and-mortar stores, with less than a third of gifts planned to be purchased online. 

However, online retailers will see a surge in sales two weeks before their offline counterparts. 

For online retailers, the highest volume of sales is expected to occur between Friday, December 7 and Monday, December 10. 

Bricks-and-mortar businesses can expect their busiest shopping days between Thursday, December 20 and Saturday, December 22.

For businesses in the hospitality sector, both online and offline, the busiest period will be Friday, December 21 to Sunday, December 23. 

As Christmas draws closer, MYOB has outlined some tips to help businesses survive the season. 

“The weeks leading up to Christmas may be demanding for shoppers, but they’re even more so for business owners and their staff,” MYOB chief executive Tim Reed says. 

“Now is the perfect time to plan for this busy period.”

This article originally appeard on StartupSmart.