The latest June figures from the Australian Bureau of Statistics (ABS) show household goods enjoying an increase of 5.88 per cent, making it the best year-on-year growth of all categories.
Furniture sales performed especially well with a 10.54 per cent year-on-year increase, reflecting high consumer confidence according to Australian Retailers Association (ARA) executive director, Russell Zimmerman.
“We usually see home owners increase their spending on household goods when housing values rise, and this month’s retail trade figures reflect the high consumer confidence home owners felt in June,” he explains.
“Hardware figures also proved positive with a 3.73 per cent year-on-year increase, their strongest retail trade figures since December since the closure of Masters around the country.”
Overall June trade figures remain steady with a total 3.8 per cent growth year on year, which is due to continual growth in food retailing.
“Although we see a robust 3.8 per cent year-on-year growth the main driving force of this increase stems from supermarkets and grocery stores with a sturdy four per cent growth year-on-year,” says Zimmerman.
“As Food Retailing represents 40 per cent of overall retail trade, this continual surge in food retailing reflects somewhat positively on the overall industry.”
This steady growth is not uncommon when more and more international retailers are entering the Australian market including the imminent arrival of Amazon.
“With Amazon recently purchasing land in Victoria we know the retail market is changing and those retailers who redefine their businesses to adapt to the shifting environment will thrive in the dynamic retail landscape.”
By Marion Gerritsen
