Credit cards set for Boxing Day workout

An estimated six in ten Australian shoppers will hit the shops for the Boxing Day sales, new research has found.

The Australian National Retailers Association (ANRA) and American Express annual Christmas survey also revealed that most sale shoppers will spend $250 each, with the items at the top of the wishlist including men’s and women’s clothing (47 per cent of those surveyed) and homewares and consumer electronics (both on 36 per cent).

ANRA said that Australians would part with $14.73 billion between Boxing Day and January 15th, a slight increase on last year’s figure of $14.25 billion.

Meanwhile Margy Osmond, chief executive officer of ANRA, suggested that while people were less inclined to spend big in light of continuing debt fears and rising interest rates, the attraction of Boxing Day shopping remained strong.

"There is always a buzz at the sales. People love bargain hunting, and even if they don’t spend as much as last year, they generally do come out in force to see what’s around," she said.

The survey findings will encourage anyone who decides to compare credit cards in the hunt for the best deals.

Yesterday the Daily Telegraph reported that a wide range of retailers were offering major discounts to attract the huge surge in last minute Christmas shoppers.

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