Australian retail turnover has experienced a notable surge of 2% in November, in seasonally adjusted terms, following a slight fall of 0.4% in October and a previous rise of 1% in September, ABS reported.
Robert Ewing (pictured above), ABS head of business statistics, attributed the increase to the success of Black Friday sales, noting that retailers initiated promotional periods earlier and extended their durations compared to previous years.
“The strong rise suggests that consumers held back on discretionary spending in October to take advantage of discounts in November,” Ewing said. “Shoppers may have also brought forward some Christmas spending that would usually happen in December.
“The popularity of Black Friday events is affecting spending patterns in the lead up to Christmas. This causes more volatile monthly movements in seasonally adjusted data.”
ABS released an article this month explaining how the changes are affecting the seasonality of retail turnover.
In November, all retail industries experienced growth, with the surge primarily driven by spending on discretionary goods during Black Friday sales. Household goods retailing led the way with a significant 7.5% jump, followed by department stores (4.2%); clothing, footwear, and personal accessory retailing (2.7%); and other retailing (1.1%).
“Retailers told us that the success of Black Friday sales was boosted by consumers seeking out discounts in response to cost-of-living pressures,” Ewing said.
Food-related industries also saw growth, with cafes, restaurants, and takeaway food services, along with food retailing, each rising by 0.4%.
Retail turnover demonstrated growth across the entire country, witnessing substantial rises in all states and territories. South Australia led with the largest rise of 2.8%, followed by Victoria at 2.4%, both rebounding from a fall in October, ABS reported.
“It’s clear that spending during Black Friday sales continues to grow across the country, with retail turnover increasing by more than one per cent in all states and territories,” Ewing said.
For more detailed information, refer to the Retail Trade, Australia, November 2023 report.
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