Transactions peak before shops close for Easter break

Share

Share

Today is expected to be one of the busiest shopping days of the year according to National Australia Bank, as Australians make their annual dash to the shops before they shut on Good Friday.

NAB Executive General Manager Consumer Lending, Angus Gilfillan said he anticipated customers would make more than 11.7 million transactions on Easter Thursday across NAB ATMs, EFTPOS, debit and credit cards.

“This is significantly up from last year, where NAB customers made approximately 10.3 million transactions,” Mr Gilfillan said.

“Today the shopping peak is expected to hit at 1pm, with approximately 260 transactions a second predicted.

“This shows that Australians are planning ahead and stocking up the fridge and pantry with Easter treats before most shops close on Good Friday.

“We also know that over Easter, transactions are typically lower, with Good Friday forecasted to be approximately half the volume of an average weekday, followed by Easter Sunday which will be 20 per cent lower than a normal Sunday.

“We also know that we will again see a spike in transactions when the shops re-open on Saturday and again when usual trading resumes on Tuesday,” Mr Gilfillan said.

Easter 2016 transaction forecast:

  • Transaction volumes today (Thursday 24 March) are expected to be 20 per cent higher than on average (average Thursday transaction volumes are 8.4 million);
  •  Transaction volumes on Good Friday are approximately 50 per cent lower than a normal weekday volume at 4.5 million (average weekday 8.8 million); and
  •  Transaction volumes on Easter Sunday are approximately 20 per cent lower than a normal Sunday at 5.3 million (normal Sunday average transactions are 6.6 million).

Topics

SEE ALL TOPICS

Related Articles

  • UBank

Ubank’s new bills and budgeting tools help customers see their money clearly

NAB-owned digital bank ubank has launched new bills and budgeting app features to make money management stress-free.

  • 27.02.2024
  • Time to read 4 min read
  • Customers

NAB CEO on the economy, simplification, and the future of banking

NAB CEO Ross McEwan has expressed optimism about the state of the economy during a wide-ranging discussion at the ABA/TTBC Economic Forecast 2024 event, while also noting the need to reduce red tape to better support the growth of small businesses in Australia.

  • 26.02.2024
  • Time to read 1 min read
  • Climate

Agri opportunities in low-carbon food export

The nation’s agricultural sector should benefit from emerging opportunities in low-emissions food and fibre exports as other countries shift away from high-emitting alternative products, NAB has said in a submission to the Federal Government’s consultation on the Agriculture and Land Sectoral Plan.

  • 23.02.2024
  • Time to read 4 min read

Quick links

National Australia Bank — NAB

Sometimes When The Unexpected Happens, We Realise What We Truly Value. Whether A Home, Farm, Business Or Your Passion, NAB Is Here To Support You.

Business Research and Insights

For more business news and analysis, visit NAB’s Business Research and Insights.