The staggering sum Aussies are expected to spend on Christmas gifts within two hours this week

Australians are expected to spend a staggering $3.33 billion on Christmas shopping within two hours this week!

NAB data reveals 60 per cent of Australians are changing their Christmas spending habits this year in response to the rising cost of living, with more people shopping early in the sales, swapping to cheaper products and brands, and using loyalty and rewards programs to stretch their money.

But the peak spend for Christmas is still expected to be when Aussies are picking up last-minute gifts!

Press PLAY below to hear when Christmas shopping is expected to peak