Oz men to outspend women in Boxing Day sales

Sunday, December 26, 2010

MELBOURNE - A new survey has revealed that Australian men would splurge more than women this Boxing Day, while New South Wales residents plan to be the most economical.

While men plan to spend an average of 433 dollars in the sales, women plan to spend 281 dollars only, reports News.com.au.

Australians will put about 400 million dollars on their credit cards, with about 60 percent of sale buys to be charged to plastic.

This equates to 213 dollars for each of the 18.7 million Australians who have credit cards, totalling 399 million dollars, according to Lonergan Research.

The survey of 1038 people, aged over 18 from regional and metropolitan areas, found 21 percent of people almost always use their credit card to buy a big-ticket item.

More will go on Gen Y’s credit cards compared to other generations.

On a state by state basis, NSW residents intend to spend the least in the sales, at 288 dollars, while people in the resources-rich Western Australia will spent the most at 463 dollars.

Meanwhile, more than 14.5 million people don’t know the interest rate that may apply to the sales purchases.

Vittoria Shortt, chief executive of BankWest Retail, which commissioned the research, urged caution when choosing a card.

“We all love the buzz of a bargain, but our research suggests many Australian shoppers may end up paying more for their bargains than they intend to,” she said in a statement on Sunday.

“We’re urging sale shoppers to get to know their interest rate. Choosing a card with a long-term low purchase rate means that a splurge in the sales can still represent good value even if the card holder chooses to pay this item off over a number of months,” she added. (ANI)

Filed under: Boxing, World

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