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How to resolve AdBlock issue? ARA: October retail growth sets pace for Christmas
AUSTRALIAN retail sales grew 3.8 percent year on year to $24.6 billion in October 2015 according to the Australian Bureau of Statistics, with the Australian Retailers Association (ARA) hopeful this level of growth and beyond will continue into the seasonal shopping period.
ARA Executive Director, Russell Zimmerman, said that retail sales growth is tracking at a steady pace ahead of the all-important Christmas shopping period, with October’s growth slightly higher than September’s 3.6 year on year growth.
Year on year figures provide the most accurate measure of the sector’s performance and are the figures used by most retail businesses in their own reporting. October 2015 sales rose 0.5 percent over September 2015.
“Despite the ARA being disappointed not to have seen a rate cut earlier this week by the Reserve Bank of Australia which would have provided a strong spending incentive in the lead up to Christmas, retailers are well placed to meet our Christmas growth predictions,” Mr Zimmerman said.
The ARA and Roy Morgan Research predicts Australian shoppers will spend $46.8 billion this Christmas in the six weeks from November 15 to December 24 – a record result.
Household goods and department stores were the big winners in October 2015, with growth of 5.9 percent and 4.7 percent respectively.
“The growth of household goods and department stores bodes well for Christmas. We hope this growth can be replicated in the coming weeks as Australians hit the shops to stock up on Christmas gifts.
“The start of warmer weather seen by most states in October was undoubtedly a contributor to some of this growth, while the popularity of television renovation shows continues to boost the household goods sector,” Mr Zimmerman said.
On a state basis, Tasmania showed it is small, but mighty, with an impressive 5.4 percent growth, closely followed by Victoria at 5.2 percent, and NSW, 4.2 percent
YEAR ON YEAR RETAIL GROWTH (October 2014 to October 2015 seasonally adjusted)
By category:
Food, three percent; household goods, 5.9 percent; clothing, footwear and personal accessories, 4.6 percent; department stores, 4.7 percent; other retailing, 2.7 percent; cafés, restaurants and takeaway foods, 3.6 percent.
By state:
NSW, 4.2 percent; Victoria, 5.2 percent; Queensland, 2.9 percent; South Australia, 2.8 percent; Western Australia, 2.1 percent; Tasmania, 5.4 percent; Northern Territory, 1.6 percent; and Australian Capital Territory, 2.3 percent.
About the Australian Retailers Association:
Founded in 1903, the Australian Retailers Association (ARA) is the retail industry’s peak representative body representing Australia’s $284 billion sector, which employs more than 1.2 million people. The ARA works to ensure retail success by informing, protecting, advocating, educating and saving money for its 5,000 independent and national retail members throughout Australia. For more information, visit www.retail.org.au or call 1300 368 041.
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