Sales continue as stores clear already discounted stock

Just when you thought the sales were over, many retailers are offering better bargains than Boxing Day in a bid to clear already-discounted stock.

“People are loving it, we’ve got heaps of surplus stock at the moment,” says Industrie’s Rhys Choake.

Despite dire predictions, it’s been a happy new year for retailers, with the Australian Bureau of Statistics (ABS) today revealing a 1.2 per cent increase in spending in the lead up to Christmas. (For the full ABS report visit their website here)

“1.2 percent is pretty unusual, I think you’ve got to go back to 2013 to see a number like that,” NAB Economist Alan Oster said.

Online sales, driven by Black Friday and the launch of the IPhone X, delivered retailers the biggest gift, accounting for 5.5 percent of total sales and the largest contribution to all sales since the ABS started recording online data in March 2013.

However Alan Oster warns we shouldn’t be celebrating just yet.

“You won’t get another iPhone release in December, so almost certainly you’re going to get a negative number for the December month for retail sales,” he said.

For those with money left over from Christmas, both online retailers and bricks and mortar stores are offering big discounts.

David Jones has just taken 25% off already reduced stock, prompting rival Myer to follow suit.

While online sites like The Iconic are selling stock at half price until midnight tonight.

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