Australian retail sales up in November
Black Friday and Cyber Monday help boost sales figures.
Australian retail sales in November recorded the largest monthly rise since April 2018, according to statistics released by the Australian Bureau of Statistics today.
Nominal turnover increased by 0.4%, slightly above the 0.3% rise predicted, with non-food sales up by 0.6% and household goods sales up 1.2%.
Clothing, footwear and personal accessory sales also recorded a rise of 1.5%, likely a result of the Black Friday and Cyber Monday sales events in late November.
Online retail sales made up 6.6% of all sales in November, also likely a result of Black Friday and Cyber Monday. This figure is now the highest online sales percentage on record, up from 5.9% in October 2018 and 5.5% in November 2017.
December declines are a possibility
While turnover was up, total sales growth for the year dropped to 2.8% in November, down from 3.6% the previous month and leaving annual sales growth at the lowest level since May 2018. However, this is a result of the large 1.2% increase in November 2017.
Following this dramatic rise, sales in December 2017 dropped 0.5%, with non-food sales dropping 1.4% in the same month, following a 2.1% increase in November 2017.
A similar decrease is likely to have occurred in December, with November sales events like Black Friday meaning people are now doing their Christmas shopping a month earlier, affecting the monthly sales figures of the festive period.
NSW bounces back
The premier state saw a 0.8% increase, following two months of falling sales, with the ACT recording a national high 1.6% rise.
Tasmania and the Northern Territory were the only two to record declines in sales, at 0.2% and 0.9% respectively, while South Australia saw no change compared to October.
Credit card spending is down
According to Commonwealth Bank, credit card spending on its network between November and early January was down 3.7% compared to the same period in 2017.