AMZN Stock: Amazon to boost Boxing Day spending spree

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Hordes of Boxing Day bargain hunters are set to flock to Australia’s top retailers before sunrise for this year’s post-Christmas sales.

But the newly-launched Amazon Australia hopes to divert customers away from traditional brick and mortar stores by offering online sales from midnight on Tuesday.

The online giant, which opened earlier this month, will be spruiking hundreds of deals across all categories, including fashion, books, movies and music.

The Australian Retailers Association and Ray Morgan predict Australians to spend big during this year’s post-Christmas sales, forecasting a 2.9 per cent rise on last year.

ARA’s executive director Russell Zimmerman says the online sector will be a driving force behind this, as well as food and hospitality spending.

“Many food retailers will be discounting their fresh produce post-Christmas for families spending time at home during the holidays,” he said.

Myer and David Jones will throw their doors open at 5am at their major CBD stores in Melbourne and Sydney on Tuesday to kick off their stocktake sales periods.

Myer expects more than 1.6 million customers around Australia on the first day of the sales, and make more than 600,000 individual transactions.

David Jones also expects more than a million customers to pass through their stores and says a further one million are likely to browse through the sales online.

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