Retail sales continue to rebound strongly. According to the Australian Bureau of Statistics (ABS), national retail sales in March reached their highest level on record, increasing 9.4 per cent compared to the same month last year and 1.6 per cent up on February sales.
Aussies forked out $33.6 billion in stores and online in March. An amazing result ahead of the previous monthly record of $33.1 billion in November last year. A period which included Black Friday, Cyber Monday and pre-Christmas sales.
It’s a phenomenal result, noted Paul Zahra, CEO of the Australian Retailers Association (ARA). “Whilst it’s pleasing to see the record levels of retail sales for March, we know that increased consumer prices that are flowing through the economy have contributed to the result. The eased Covid restrictions have also helped lift sales, and businesses are now able to trade closer to their full potential, with the relaxation of close contact isolation requirements helping to alleviate staffing pressures”.
All major categories enjoyed significant growth in March. Other Retailing, including beauty (+15.4%), Clothing, Footwear and Personal Accessories (+14.3%), Cafes and Restaurants (+13.2%), Household Goods (+11.6%) and Department Stores(+1.3%).
NSW, Victoria and Queensland led the charge with double digit sales growth of 10.3 per cent, 10.2 per cent and 10.4 per cent, respectively. Retail sales in other states also followed the upward path – SA (+7.8%), ACT (+7%), WA (+6.95%) and Tasmania (+3.2%).
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