The retail turnover in Australia has been recorded at a growth of 7.3 per cent in November 2021, seasonally adjusted, according to the retail trade figures released by the Australian Bureau of Statistics (ABS). This follows consecutive rises of 4.9 per cent in October 2021 and 1.3 per cent in September 2021 after a 1.7 per cent fall in August 2021.

Ben James, director of Quarterly Economy Wide Statistics, said the 7.3 per cent increase is the fourth strongest monthly rise in the series with retail sales now at their highest level ever recorded, up 5.8 per cent on the previous record set in November 2020.

“Further easing of COVID-19 restrictions in the South-Eastern states and territories has seen the retail industry recover all lost momentum caused by the Delta outbreak. Victoria recorded the largest state rise, up 20.0 per cent, reaching its highest level of the series. This follows the state’s lockdown ending in late October,” James explained.

The retail turnover in Australia has been recorded at a growth of 7.3 per cent in November 2021, seasonally adjusted, according to the retail trade figures released by the Australian Bureau of Statistics (ABS). This follows consecutive rises of 4.9 per cent in October 2021 and 1.3 per cent in September 2021 after a 1.7 per cent fall in August 2021.

Pent-up consumer demand combined with an extended November sales period saw record sales in clothing, footwear and personal accessory retailing (38.2 per cent), household goods retailing (11.6 per cent), department stores (26.0 per cent) and other retailing (7.3 per cent). Consumers brought forward Christmas spending to take advantage of sales and minimise delivery and stock availability concerns ahead of the festive season.

Aside from the Northern Territory, all remaining jurisdictions also recorded retail sales rises to record levels. Turnover in the Northern Territory fell 2.7 per cent as lockdown restrictions introduced throughout the month negatively impacted sales. Discretionary spending continued to be strong in November, with five retail industries seeing rises for the second consecutive month, ABS said in a press release.

“Continued easing of COVID-19 restrictions, including less strict density and capacity limits, in New South Wales (5.1 per cent) and the Australian Capital Territory (19.2 per cent) led to rises in turnover to record levels,” added James.

Fibre2Fashion News Desk (RR)