August 30th 2024.
According to the latest data from the Australian Bureau of Statistics, the retail turnover rate in Australia has remained stable. In the month of July, approximately $36 million was spent, which is the same amount that was spent in June. This information was revealed by Ben Dorber, the head of retail statistics at ABS.
Dorber also mentioned that this figure follows a 0.5% increase in spending during the months of June and May, largely due to the mid-year sales activity. He explained, "The higher level of retail turnover in July can be attributed to the boost from the previous two months." However, while the overall rate has remained steady, there has been a decline in spending in some industries.
For instance, there was a 0.5% decrease in spending on clothing, footwear, and accessories, while department stores saw a 0.4% drop in customers. Similarly, there was a 0.2% decrease in spending at cafes, restaurants, and takeaway places. In contrast, household goods retailing and other retailing sectors saw no change in their turnover.
Dorber commented on this trend, stating that the decrease in spending on clothing, footwear, and department stores can be attributed to the recent mid-year sales events. He also mentioned that household goods retailers have managed to maintain their high turnover levels in the past few months. As for the geographical distribution of retail spending, Western Australia, Victoria, Queensland, and the Northern Territory showed the highest spending in July, while New South Wales, South Australia, Tasmania, and the Australian Capital Territory experienced a decline in spending.
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