July Retail Turnover Up 3.2%, Household Goods Soar
The Australian Bureau of Statistics has revised July retail turnover to 3.2%, down from a preliminary result of 3.3% [seasonally adjusted] – household goods continue to lead the charge.
“Retail sales in July 2020 were 12.0 per cent above July 2019, with sales in household goods particularly strong, 29.4 per cent above the same month last year,” said Ben James, Director of Quarterly Economy Wide Surveys.
Strong gains were notched in all states, except Victorian which battled heightened lockdown measures.
The results follow a retail turnover lift of 2.7% in June.
Household goods lead the monthly rise (4%), with home-bound Aussies continuing to invest in home improvement, mirroring buying trends since restrictions were introduced.
The full effect of stage four lockdown will be reflected in preliminary August results, which is set to be released in the week commencing September 21.
‘Other retailing’ also soared in July, alongside a 1.2% jump in food.
“Turnover in clothing, footwear and personal accessory retailing (7.1 per cent) and cafes, restaurants, and takeaway food services (4.9 per cent) rose across the country, with the exception of Victoria, where the reintroduction of Stage 3 stay-at-home restrictions in July partially offset these rises. As was the case in April, restrictions led to significant falls in these industries in Victoria” states Mr James.
Online sales represented 9.8% of total retail turnover in July, up from 9.7% in June, and 6.3% in July last year.
On a state by state basis, NSW climbed 5%, WA 3.8%, SA 2.9%, ACT 5.8%, TAS 4.2%, NT 3.1%, whilst VIC slipped 2.1%.