Extraordinary shopping trend shows how the cost of living crisis has ruined Christmas for struggling Aussies

The cost of living crisis is now so bad that Australian families are delaying their Christmas until after the Boxing Day sales.

Consumer expert Graeme Hughes, director of the Business Lab at Griffith University in Brisbane, said rising mortgage repayments led to some struggling families opening their presents on December 26.

“Absolutely, I've heard quite a few consumers who are catching up and celebrating Christmas on Boxing Day – getting out early and planning to do early Boxing Day shopping,” he told Daily Mail Australia.

Others have a second Christmas where they give out fewer presents on Christmas Day, and instead open more presents on Boxing Day.

“It's the second Christmas for many families after juggling it on Christmas Day,” he said.

The Australian Retailers Association and Roy Morgan Research predict that consumers will spend $23.9 billion during this year's Boxing Day sales, an increase of $400 million or 1.7 percent from 2022.

But Mr Hughes said price-conscious Australians who celebrated Christmas on December 25 were more likely to buy their presents during November's Black Friday sales.

He added that discounts of at least 30 per cent or more were needed to entice customers to spend more on Boxing Day than last year, especially on items such as electrical appliances.

“To really get consumers moving, they seem to be at least 20, if not 30 years old and over,” Mr Hughes said.

The cost of living crisis has also led to a surge in demand for things like homeland security, as tough times lead to a rise in crime in parts of North Queensland.

“We've even seen some interest in homeland security, especially with juvenile crime and things like that,” he said.

Consumer expert Graeme Hughes, director of Griffith University's Business Lab in Brisbane, said rising mortgage repayments had some struggling families opening their presents on December 26.

Others have a second Christmas where they give out fewer presents on Christmas Day, and instead open more presents on Boxing Day (pictured is a stock image)

The Reserve Bank raised interest rates for the thirteenth time in eighteen months in November, bringing the cash rate to a twelve-year high of 4.35 percent.

Monthly repayments on a variable mortgage have increased by 68 percent since May 2022, when banks offered variable mortgage rates starting with a 'two'.

Inflation fell to 4.9 percent in October – a big drop from the 32-year high annual rate of 7.8 percent at the end of 2022.

But electricity bills still rose 10 per cent over the year, while petrol prices rose 8.6 per cent, Australian Bureau of Statistics data showed.

This left money for Christmas presents, even though clothing costs fell by 1.7 percent over the year.

“There are fewer gifts under the tree this year,” Hughes said.