Retailers that count on consumers to open their wallets a little wider ahead of Christmas are in for a rude awakening, as Australians tighten their belts and bargain-hunting becomes the norm.

That’s the finding of a new report on holiday retail spending this year, which IBISWorld released on Monday. Based on trade data from the Australian Bureau of Statistics and industry reports, the global research company predicts consumers will spend a meagre 0.4 per cent more than they did last December in categories that typically rely on Christmas trading, including electronic goods, jewellery and watches, liquor, department stores and recreational goods.

 

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