Aussie shoppers continued to defy cautious economic predictions in February. According to the Australian Bureau of Statistics (ABS), retail sales reached $35 billion over the month – an increase of 6.4 per cent year-on-year.
Over the last four weeks of summer people spread their wings, delivering a spike of 17 per cent for cafes, restaurants and takeaway to reach revenues of $5.23 billion.
Department stores were also a beneficiary of continued spending with sales up 7.7 per cent to $1.88 billion. While clothing, footwear and accessories saw sales rise 6.2 per cent to $2.97 billion.
Household goods, which have enjoyed booming sales over the past two years, suffered a bit of a reality check. Sales slipped 2.3 per cent to a still significant $5.82 billion. Other Retailing, including beauty, enjoyed an uptick of 3.2 per cent to $5.35 billion.
All major states enjoyed high single digit gains. Retail sales for NSW rose 6.6 per cent to $11.12 billion, followed by Victoria at $9.06 billion (+6.1%) and Queensland at $7.10 billion (+4.8%). South Australia and Tasmania both edged up 7.1 per cent to $2.25 billion and $707 million, respectively. While WA revenues reached $3.90 billion (+8.7%) and the ACT posted a rise of 9.2 per cent to $664 million.
Paul Zahra, CEO of the Australian Retailers Association (ARA) noted that even though categories such as food were now in a neutral position for spending, other categories are performing well as people continue to enjoy themselves post-pandemic.
“The categories to record strong spending growth were cafes, restaurants and takeaway, department stores and clothing, footwear and accessories. With the resurgence in getting out and about continuing to deliver solid results for this segment, which was heavily impacted previously by the pandemic”.
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