The expected pull-forward in spending comes as retailers including Coles, Woolworths, Myer and JB Hi-Fi express optimism about Christmas trading despite the pressure households are under after another interest rate rise in November.

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“We are focused, well-prepared and have a clear plan to capitalise on the Christmas peak trade and the remainder of the year despite the uncertain economic outlook,” Myer chief executive John King told investors at the company’s annual general meeting last week.

Australia Post says November cyber sales are set to be bigger than those last year, when 21 million parcels were posted across the country as part of the November sales events.

The postal carrier has been urging shoppers to get organised as soon as possible to ensure parcels make their destinations on time in case of disruptions to the supply chain.

While festive shopping may be starting earlier this year, nobody is expecting Australia to avoid a slowdown in spending.

“There is no doubt that the cost-of-living and pressure of interest rate [rises] are yet to bite,” Zahra said.

That could mean retailers are safe from a slowdown until January or February 2023, with equities analysts tipping a tightening of belts some time after new year.

“We expect slowing is likely to build in coming months, as the lagged effect of rate hikes has a greater impact on both spending and housing/investment activity,” Morgan Stanley analysts said in a note to clients at the end of last month.

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