Australians can expect overflowing stockings this Christmas as shoppers shell out more than the gross domestic product of Namibia and Papua New Guinea combined in the lead-up to Christmas.
Christmas Eve is expected to cap off just under $47 billion in sales over the six weeks of pre-Christmas shopping, according to the Australian Retailers Association(ARA).
"There is a heck of a lot of confidence at the moment ... the change of prime minister drove a lot of consumer confidence," ARA executive director Russell Zimmerman told AAP.
Although NSW is expected to spend the most of all states and territories at close to $15 billion in pre-Christmas sales, Victoria has most growth - up 4.6 per cent on last year. Nationally sales are 3.6 per cent ahead of last year.
Boxing Day sales were also predicted to be a bumper this year mainly due to a change in NSW laws with over $2.3 billion expected to fly through tills on December 26.
"Allowing retailers to open absolutely everywhere across NSW - that is a great thing for the industry," Mr Zimmerman said.
On people's last-minute lists will be aftershave, perfumes and Christmas lunch, with $19 billion spent on food nationwide before Christmas.
"Most people try and leave their fish and in particular their fresh fruit and vegetables until the very last," he said.
But during the Christmas rush the more light-fingered shoppers also take advantage with three per cent of all pre-Christmas spending lost to theft.
"The lead-up to Christmas has been absolutely fantastic ... Christmas Eve is no exception you can see the buzz in the store now," Myer's general manager Alison Muir said inside Sydney's Pitt St store on Thursday.
Ms Muir said the opportunity to open stores outside of the CBD in NSW would also help drive sales.
