Home Offices Meet Entertainment Score On Covid-19 Oz ABS Shows
CANBERRA: A 16.3 percent rise in Australian overall retail trading in May has seen significant increases in household goods sales, with retailers reporting an increase in spending on furniture, home entertainment, home offices, and home improvement.
According to the Australian Bureau of Statistics (“Stats”) preliminary retail trade figures for the month, total Australian retail turnover rose by 16.3 percent – though this followed the largest ever fall of 17.7pc in April. Year-on-year, retail turnover was up 5.3pc.
The most significant increases were recorded in retail industries that had recorded particularly low levels of trade in April, including home offices and home entertainment. These included clothing, footwear and personal accessory retailing, and cafes, restaurants and takeaway food services, supported by the easing of Covid-19 restrictions.
Stats’ report is in line with a surge in sales seen a JB Hi-Fi, The Good Guys, Harvey Norman, Bunnings and Officeworks.
The ABS preliminary retail trade figures point to the beginning of a sector recovery, a trend that has been mirrored in the ANZ-Roy Morgan Consumer Confidence Index. – ChannelNews