New gadgets such as Google Home, iPhone X and Xbox One X boosted profits for retailers in the lead-up to Christmas last year, with electrical goods receiving a 9.49 per cent year-on-year increase.
The Australian Retailers Association (ARA) predicted a 2.8 per cent increase in total pre-Christmas sales, with consumers to spend up to $50 billion in stores, and ARA executive director Russell Zimmerman says he is confident the industry will reach close to this figure.
“November also saw clothing, footwear and personal accessories receive a 2.19 per cent year-on-year growth―not only their best growth since May, but this also gives us a peek into what’s to come over the Christmas period,” says Zimmerman.
Recently released ABS figures showed a slow but positive lead into Christmas with 2.87 per cent total growth year-on-year.
Zimmerman says although these figures are a quiet lead into Christmas, the ARA is confident that the industry will prove its worth when December figures are released.
“From what we’ve heard from our members so far, we think the overall Christmas trade will be reasonably strong with many big retailers seeing their biggest growth in their online sales.
“With the ARA predicting a 3.96 per cent increase in online sales this Christmas, we’re looking forward to seeing the December trade figures when they are released in February, as this will give us more insight into how retailers performed over the Christmas period.”
Household goods retailing had a monthly (October-November) growth of 4.52 per cent and 2.86 per cent year-on-year retail growth (November 2016-November 2017).
By Marion Gerritsen
