Australia expects huge sales on Boxing Day

Australian shopping centres and malls threw open their doors Thursday to shoppers on Boxing Day.

Australian National Retailers Association (ANRA) predicts that spending on Boxing Day will hit AUS $1.9 billion high this year (about $1.7 billion), Xinhua cited from the Australian Associated Press.

Boxing Day is traditionally the day following Christmas Day and it's also known as a shopping holiday.

The total spending is 5.5 percent more than last year, according to the ANRA.

The state of Victoria will see the most spending, which is expected to reach AUS $637 million, while the state of New South Wales will be the second highest with AUS $545 million.

ANRA forecasts that purchases at physical stores in Australia will occupy most of the Dec 26 sales, while online shopping will reach AUS $344 million.

In Australia, stores offer their excess stock at reduced prices and people take advantage of the sales to buy products at relatively low prices.