July was not a good month for retailers, with sales stalling according to the Australian Bureau of Statistics.
Figures show retail turnover dropped by 0.1 per cent and NRA CEO Dominique Lamb says this doesn’t bode well for a sector that has struggled throughout much of 2019.
“The July results are not good news for retailers, we were hopeful of far better figures following a strong sales performance for June,” she says.
“A drop in turnover shows that consumer confidence remains stubbornly low, despite measures such as the personal tax cuts and reduction in interest rates.”
There were falls across four industries including personal accessories which had a drop of one per cent. The dip affected most Australia states, with South Australia experiencing the biggest fall at 0.5 per cent since the previous month followed by the ACT, Queensland, New South Wales and Tasmania.
Sales rose 0.6 per cent in Western Australia and 0.3 per cent in the Northern Territory.
Lamb emphasises how important it is to support local retailers, especially with only a few months left till Christmas.
“Retail is one of the largest sectors in Australia and the biggest employer of young people, so its importance to the overall economy cannot be overstated.
“The NRA urges Aussie shoppers to not shy away from spending any extra money they’ve received in tax cuts or the drop in interest rates at their local retail outlet.”
