Retail sales have marked 15 consecutive months of growth, with a record $35.9 billion spent in stores and online in November 2022 – an increase of 7.7% on the same time the previous year – according to figures released today by the Australian Bureau of Statistics (ABS).
As consumers across the country regained their sought-after freedoms, there were strong year-on-year sales increases for cafés, restaurants and take away food (up 24.8%) with department stores (up 7.6%) and clothing, footwear and personal accessories (up 7.1%) also recording strong growth.
Queensland led year-on-year growth (up 10.4%) followed by South Australia (up 9.5%) and Western Australia (up 9.1%).
Australian Retailers Association (ARA) CEO Paul Zahra said whilst the results remain solid for retail, inflation played a significant role in the increase in sales, with the Consumer Price Index (CPI) for November 2022 also reported today at 7.4%.
“November’s results remain strong when compared to the same period in 2021. The result is particularly strong considering the cost-of-living squeeze being felt by households across the board,” Mr Zahra said.
“This data also marks 15 consecutive months of growth in retail trade, which is a phenomenal result considering the disruption and adversity the industry has weathered.
However, Mr Zahra flagged an expected slowdown in spending in 2023, which will prove a challenge for retailers. He also acknowledged that inflation played a role in the November 2022 retail trade results and may continue to do so.
“Inflation remains a concern for us. So does the rising cost of doing business along with supply chain disruptions and staff shortages, which remain top of mind for retailers. These results reinforce the retail industry’s permanent state of disruption and the need for retailers to remain resilient in the face of economic headwinds and external pressures beyond their control,” said Mr Zahra.
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PERFORMANCE BY RETAIL CATEGORY |
YEAR ON YEAR SEASONALLY ADJUSTED RETAIL SALES GROWTH (NOVEMBER 2022 v NOVEMBER 2021)
|
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Food retailing |
8.4% up |
|
Household goods |
2.1% down |
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Clothing, footwear and personal accessories |
7.1% up |
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Department stores |
7.6% up |
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Cafés, restaurants and takeaway food |
24.8% up |
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Other retailing |
4.6% up |
|
Total retail |
7.7% up |
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PERFORMANCE BY STATE/TERRITORY |
YEAR ON YEAR SEASONALLY ADJUSTED RETAIL SALES GROWTH (NOVEMBER 2022 v NOVEMBER 2021)
|
|
NSW |
8.9% up |
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Victoria |
3.4% up |
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Queensland |
10.4% up |
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Western Australia |
9.1% up |
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South Australia |
9.5% up |
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ACT |
7.0% up |
|
NT |
7.3% up |
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Tasmania |
6.5% up |
|
All states and territories |
7.7% up |
ENDS
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About us: The Australian Retailers Association (ARA) is the oldest, largest and most diverse national retail body, representing a $400 billion sector that employs 1.3 million Australians and is the largest private sector employer in the country. As Australia’s peak retail body, representing more than 120,000 retail shop fronts and online stores, the ARA informs, advocates, educates, protects and unifies our independent, national and international retail community. To learn more about ARA’s exclusive member benefits and more, visit retail.org.au
