A woman walks past a window displaying Christmas decorations outside a department store in Tokyo November 25, 2010. Retailers across Australia and Japan are bracing for tight fisted shoppers to hold out for bargains in the lead-up to the ciritical holiday
A woman walks past a window displaying Christmas decorations outside a department store in Tokyo November 25, 2010. Retailers across Australia and Japan are bracing for tight fisted shoppers to hold out for bargains in the lead-up to the ciritical holiday season, putting pressure on margins and profits. To match Analysis ASIA-RETAILERS/ REUTERS/Yuriko Nakao (JAPAN - Tags: EMPLOYMENT BUSINESS SOCIETY)
A woman walks past a window displaying Christmas decorations outside a department store in Tokyo November 25, 2010. Retailers across Australia and Japan are bracing for tight fisted shoppers to hold out for bargains in the lead-up to the ciritical holiday season, putting pressure on margins and profits. To match Analysis ASIA-RETAILERS/ REUTERS/Yuriko Nakao (JAPAN - Tags: EMPLOYMENT BUSINESS SOCIETY)

It would be a happy yearend for Australian retailers with the ka-ching of cash registers expected to ring more often for the last month of 2014. Comparison Web site finder.com.au estimates that Aussies will spend $8.3 billion for Christmas presents shopping alone.

That would mean the average spending per adult Australian would be $488. That amount is based on a survey made by finder.com.au, the largest credit card comparison Web site in Australia.

Among the big spenders, 12 percent would spend more than $1,000 on Christmas gifts, while 3 percent would spend more than $2,000, 27 percent would spent between $500 and $1,000 and 61 percent would spend less than $500. By state, the biggest spenders would be those in the Australian Capital Territory, followed by Tasmania, New South Wales, Victoria, Western Australia, Queensland and South Australia.

By age group, the biggest spenders will be those from aged 35 to 54 who will spend an average of $540, followed by the 18-34 age group and 55-75 age group with projected spending of $512 and $458, respectively.

Michelle Hutchison, money expert at creditcardfinder.com.au, warned of overspending because of pressure "to buy more than they necessarily can afford."

As a result of many Australians relying heavily on their credit cards to do their Christmas shopping in 2013 with $25.66 billion charged to their cards for Christmas shopping last year, 200,000 shoppers would continue paying for the overshopping in 2013 until 2015.

Hutchison reminded credit card shoppers, "And if you find yourself in over your head after your shopping spree, make sure you compare balance transfer credit cards to save on interest while paying off your debt."

To accommodate the rash of Christmas shoppers, beginning Dec 1, retailers in Bourke St Mall, Melbourne's GPO, Melbourne Central and the new Emporium will be open until 9 pm.