Original article by
Australian Retailers Association – Page: Online : 29-Nov-22

Retail sales continue to show robust year-on-year growth, with $35 billion spent in stores and online in October; this is an increase of 12.5 per cent on the same time a year ago, according to figures from the Australian Bureau of Statistics. However, retail turnover fell 0.2 per cent compared to the previous month, which is the sector’s first monthly fall in 2022. There were strong year-on-year sales increases for clothing, footwear and personal accessories (up 32.8%), cafes, restaurants and take-away food (up 35.3%), and department stores (up 23.0%). Australian Retailers Association CEO Paul Zahra says that while the results remain solid for retail, some softening of sales is inevitable as Australians confront the cost-of-living challenges. He says the ARA is optimistic about pre-Christmas trading, anticipating a $63.9 billion spend this year; this is up three percent on 2021 spending, according to the ARA-Roy Morgan predictions.

CORPORATES
AUSTRALIAN RETAILERS ASSOCIATION, ROY MORGAN LIMITED