Retail

Strong retail sales for November 2018 according to ABS

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The National Retail Association (NRA) is pleased to announce that Australian retail recorded strong sales in November 2018, according to the Australian Bureau of Statistics (ABS) Retail Trade report.

The increase in turnover of 0.4 per cent (seasonally adjusted) means that the sales for the Christmas trade period are expected to align with NRA forecast of a more than $50 billion spend.

NRA Deputy CEO Lindsay Carroll said the figures are welcome news to the sector after a quiet period for much of 2018.

“November is a busy month for retail with events such as Click Frenzy, Black Friday and Cyber Monday, as well as the start of the Christmas trade period midway through the month,” Ms Carroll said.

“The ABS figures indicate a strong sales performance for retail in November and aligns with the NRA forecast of a $50 billion spend for the Christmas trade period.

“Household Goods, along with Clothing, Footwear and Personal Accessories recorded the biggest increases and this can be attributed in large part to the Black Friday sales.

“While retail has certainly had busier years than 2018, the November 2018 figures bode well for Christmas sales and we anticipate even stronger figures for the month of December 2018.”

Online retail turnover also saw a large increase in sales with a turnover of 6.6 per cent, an increase of 5.9 per cent on the October 2018 results.

“Retail turnover from online sales continues to increase at a high rate and this can be attributed to the rise in popularity of events such as Click Frenzy and Cyber Monday, combined with the fact that buying online is a convenient option for many shoppers.

“Although online sales are increasing at a steady rate, we certainly don’t think it the end of bricks and mortar retail. Online turnover still only accounts for less than 9 per cent of total retail sales and many retailers offer an online channel that complements their physical store.”

Source: NRA

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