Aussies Predicted to Spend $4.6 Billion on Boxing Day Sales

Nearly one in two Australians have made plans to shop at the Boxing Day sales, with one of the big four banks predicting around $4.6 billion (US$3.1 billion) to be spent on post-Christmas stock. That’s according to the Commonwealth Bank of Australia (CBA), which said that the cost of living pressures were driving a significant change in Australians’ shopping behaviour. “Aussies are becoming much more price-sensitive and responding to the higher cost of living by looking for discounts and deals,” said CBA’s personal finance expert, Jess Irvine. Australians aged 39 and under are predicted to be the main demographic to drive Boxing Day sales, which is based on a November cost of living report that found younger Australians—particularly those in the 25-29 age group—to be feeling the most pain from rising prices....