Celebrations start from Lunar New Year’s Eve this Monday, 16 February, before finishing up on 3 March. This year is expected to eclipse last year’s celebrations, when customer spending rose by 4.1%.
Since 2023, household cleaning and repair services have experienced an average annual growth rate of 12.5%,
ANZ acting managing director retail products Kate Britton says that the year-on-year rise in Lunar New Year spending reflects the increasing scale of celebrations across Australia.
“Lunar New Year is a meaningful time for many, and we’re glad to play a small part in supporting customers as they mark the occasion in their own ways,” Britton said.
Ron Lim, owner of West Lake restaurant in Melbourne’s Chinatown, said the 15-day festival “gets bigger and better for us every year”.