Aussie Retail Hits Record High Sales
The rising cost of living, inflation, and a pandemic haven’t stopped Australians from spending up big, with April marking yet another retail turnover high.
Retail sales rose 0.9 per cent in April from the previous quarter, according to the ABS, marking the fourth consecutive monthly rise. Sales rose 9.6 per cent compared with April 2021.
$33.9 million was spent in April.
ABS director of quarterly economic wide statistics Ben James credits spending around the various food industries, such as dining, cafes, takeaway, and groceries, for the jump.
“This is a contrast to the consumer behaviour previously seen during the pandemic, where these two industries would consistently move in opposite directions as outbreaks and restrictions either tightened or eased,” James explains.
Despite the free spending, both household goods and department store spending dropped, by 2.7 per cent and 2.5 per cent, respectively.