Episode #26 - Xmas 2025 Trading Results Deep Dive

Episode 26 of the Retail Scoreboard delivers a full December 2025 Christmas and Boxing Day trading review, using anonymised data from 100+ Australian retailers to unpack how the peak period really performed.

This episode breaks down like-for-like growth across December, examining sales, units, transactions, margins and discounting to understand where growth came from — and where it didn't. While overall December sales finished up around 3%, the data shows a very uneven performance beneath the surface.

The discussion explores:

• Channel performance, with online delivering double-digit growth while standalone stores struggled to gain momentum

• Timing effects, including a late Christmas lift and a heavy reliance on Boxing Day to recover lost ground

• State-by-state results, highlighting softness across most regions and stronger outcomes in WA

• Discounting behaviour, revealing a clear two-channel strategy — markdown-led growth online and largely full-price trading in stores

• Physical retail pressure, with over half of physical stores recording a sales decline for the month

• Results vs expectations, showing that the majority of brands and stores missed their December targets

The episode closes by zooming out to a quarter and year-to-date view, reinforcing the structural shift toward online and the growing challenge of driving meaningful growth through physical stores during key trading periods.

Want full access to The Retail Score Index and the complete Christmas trading insights?
Visit www.theretailscore.com