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AUSTRALIA DATA: Discounting Boosts November Sales, Spending Data On Friday

AUSTRALIA DATA
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November retail sales rose 0.8% m/m boosted by Black Friday sales, the eighth straight monthly increase. The annual rate eased to 3.0% y/y from 3.5% y/y but continues to signal a pickup in spending in H2 2024. Three-month momentum is at its highest in two years as disposable income growth improves with wage increases, lower inflation and tax cuts. 

  • Around mid-2025 retail sales will be replaced by household spending, a more comprehensive measure including services, which is released January 10 for November.
  • Discounts have spread to the whole of November from just Cyber week, according to the ABS.
  • The ABS noted that Black Friday discounting boosted all retail sectors but clothing & footwear and department stores saw the largest increases at +1.6% m/m and 1.8% m/m respectively. Price reductions included food and restaurant/café sales rose strongly up 1.5% m/m and food retailing +0.5%.
  • Sales in all sectors excluding department stores are higher compared to a year ago.

Australia retail sales $mn

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November retail sales rose 0.8% m/m boosted by Black Friday sales, the eighth straight monthly increase. The annual rate eased to 3.0% y/y from 3.5% y/y but continues to signal a pickup in spending in H2 2024. Three-month momentum is at its highest in two years as disposable income growth improves with wage increases, lower inflation and tax cuts. 

  • Around mid-2025 retail sales will be replaced by household spending, a more comprehensive measure including services, which is released January 10 for November.
  • Discounts have spread to the whole of November from just Cyber week, according to the ABS.
  • The ABS noted that Black Friday discounting boosted all retail sectors but clothing & footwear and department stores saw the largest increases at +1.6% m/m and 1.8% m/m respectively. Price reductions included food and restaurant/café sales rose strongly up 1.5% m/m and food retailing +0.5%.
  • Sales in all sectors excluding department stores are higher compared to a year ago.

Australia retail sales $mn

Keep reading...Show less