This Boxing Day shopping season, Australian shoppers are splurging big despite inflation staring with a bloodshot eye.

Research conducted by the Australian Retailers Association (ARA) and Roy Morgan Research revealed that Australians are projected to spend a staggering $1.3 billion on Boxing Day, with an additional $2.4 billion expected during the remaining days of December.

While the data gives retailers a reason to rejoice, however, the spending spree has also a downside as experts believe Australians wasting over $1 billion on unused Christmas gifts could lead to serious environmental concerns, reported The Guardian.

The Australian Institute suggests embracing a circular economy to reduce waste and promote sustainability.

Figures show that shoppers will spend $3.7 billion for the six days following Christmas-- a 2.7%........

© International Business Times