The latest forecast from the Australian Retailers Association (ARA) and market research firm, Roy Morgan has suggested that spending in the food retailing sector will top $21b this holiday period.
The forecast follows a consistent pattern of positive results for the sector, with recent retail trade figures from the Australian Bureau of Statistics reporting a 3.9 per cent year-on-year growth.
But it isn’t just grocery and produce retailers that stand to benefit from the spending splurge.
Steve Plarre, CEO and director of Melbourne-based bakery franchise, Ferguson Plarre Bakehouses said noticed a substantial lift this year, with traditional mince tarts, puddings and new gourmet lemon tarts making up 30 per cent of all sales
“Sales have been incredibly strong over the Christmas period, with an astounding 78 per cent growth in Christmas sales which can be attributed to our catalogue letter box and online sales,” Plarre said.
In addition to the boost in food retailing sales, the ARA and Roy Morgan is predicting an increase in the hospitality sector, announcing a forecasted spend of $7.3b, up 3.2 per cent from last year.
Russell Zimmerman, executive director of the ARA suggested more Australians were turning to restaurants and cafes over the holiday period out of convenience.
“As Christmas is such a monumental event, we expect to see more consumers turning to caf_s and restaurants to alleviate the pressure that arises throughout the bustling Christmas season,” Zimmerman said.
“The festive season is fundamentally about the gift of sharing and whether you’re dishing up a of feast of homemade delights or treating your family and friends to a day out, tables across Australia will be plentiful with Christmas celebrations.”
