Australian retail turnover rose 7.1 per cent in November 2020, up from 1.4 per cent in October 2020, and a 13.3 per cent increase in turnover compared with 12 months earlier, according to the Australian Bureau of Statistics (ABS) retail trade figures.
The numbers were significantly higher with Victoria coming out of lockdown, says Ben James, director of Quarterly Economy Wide Surveys.
“The rise is led by Victoria (22.4 per cent) as Melbourne retail stores were able to trade for a full month in November,” he says. “Excluding Victoria, turnover rose 2.6 per cent.”
Household goods retailing rose by 12.7 per cent and National Retail Association CEO, Dominique Lamb, says the November figures were a pre-Christmas miracle for Australian retailers, and precisely what the industry needed after a difficult year.
“It’s understandable that there would be an increase from October to November as lockdowns eased,” she explains.
“What’s most pleasing is the very strong year-on-year increase. This shows that Australian consumers remained confident and were spending on items for themselves and for their homes.
“Clearly people had more cash in their pockets, despite the higher than expected unemployment rates. This is partly due to the lockdown and inability to travel, but it’s also due to the well targeted stimulus packages delivered by the state and federal governments.
“These measures have clearly worked to keep the economy strong, and today’s figures prove they have saved a lot of jobs.”
Online sales made up 11 per cent of total retail turnover in November 2020, compared to 10.4 per cent in October 2020. In November 2019, online retail turnover contributed 7.2 per cent to total retail.
