OPINION
oOh!media's Chief believes Christmas 2020 is going to be good for retailers – at least a lot better than previously expected. The data he’s collected backs up the theory (and his name lends credibility to his opinion!)
Early data points to Christmas cheer
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hat could well be one of the most unusual Christmases in living memory is approaching, and many in the retail industry will be eagerly looking forward to the holiday season and the advent of a more prosperous 2021. But after a strange and challenging year, what will Christmas look like? Will we see cautious consumers feeling the effects of 2020 stubbornly refusing to open their wallets? Or will it be a much happier occasion, with people realising the state of our nation managing COVID is improving and therefore spending with renewed optimism? There are arguments on both sides at a time of many challenges and unpredictable events both here and overseas, but there are signs, backed by data, that the shopping season could be better than expected.
What the numbers say As a leading Out of Home media owner, we have a deep and abiding interest in what people are doing and where they are spending their time. To that end, we frequently collect and analyse numerous data streams, keeping a close eye on audience movements across retail centres and offices, roads and transport hubs, cafés and universities, among many other public spaces. 64 SCN
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At the time of writing this article, markets across Australia are in a positive position. From a retail perspective, our latest findings have given us a look into how Australians are feeling and behaving. National audiences at local and medium shopping centres have been recovering consistently, and are now over 90% of where they were pre-COVID.1 Home-maker centres are also doing well, at almost 90% of 2019 levels, while in regional areas, audiences have actually surpassed last year by almost 10% – a promising sign of normality returning and a look into just what the summer holidays might look like for Australian travel.1 Consumer confidence also increased across the country, presumably driven by successful COVID containment strategies in most areas, plus tax cuts and a mooted interest rate cut on the near horizon, courtesy of the RBA. Despite the conditions in Victoria, and many people still working from home, we can confidently say that shoppers across the nation are out
NOEL COOK Chief Commercial and Operations Officer oOh!media
and about again. This is confirmed by recent research released by Vamp Australia in October showing that 84% of respondents expect they’ll spend the same or more on Christmas this year, compared to last year.2 Along with the extensive government support packages, one additional and intriguing factor helping drive this may be the current absence of international travel. Australians who usually spend thousands of dollars holidaying overseas will be staying in country, presumably with money available that they would have previously spent in far-flung locations.
Christmas shopping starting early With the data pointing to a better than expected end to the year, it’s an
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17/11/20 2:29 pm
