Transactions peak before shops close for Easter break
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).