Black Friday buoys Australian retail but online continues to dominate

Black Friday buoys Australian retail but online continues to dominate

Australia's wholehearted embrace of the American Thanksgiving tradition Black Friday has paid off for our retailers, but it's online where shoppers continue to flock.

The highly anticipated ABS data on retailing for November 2018 proved to be more positive than expected, with turnover up 0.4 per cent in November 2018. Pundits predicted turnover to be up 0.3 per cent in the period.

The 0.4 per cent increase follows a 0.3 per cent rise in October 2018.

Acting director of quarterly economy wide surveys at the ABS Ben Faulkner says Black Friday injected serious adrenaline into retail during November.

"Household goods retailing led the rises while there was a notable rise for clothing, footwear and personal accessories retailing," says Faulkner.

"Both of these industries were impacted by strong promotional activity in the November month, including Black Friday sales."

Rises were also seen in food retailing and department stores, whilst cafes, restaurants and takeaway services saw a minor fall during November.

The real champion of course was online retail, which contributed 6.6 per cent to total retail turnover in November, a rise from 5.9 per cent in October 2018.

This is the highest level recorded in the series and continues a pattern of increasing online contributions to total sales in November.

In November 2017 online retail contributed 5.5 per cent to total retail.

In seasonally adjusted terms there were rises in New South Wales (0.8 per cent), Queensland (0.4 per cent), Western Australia (0.6 per cent), the Australian Capital Territory (1.6 per cent), and Victoria (0.1 per cent). South Australia was relatively unchanged (0.0 per cent). There were falls in the Northern Territory (-0.9 per cent), and Tasmania (-0.2 per cent).

Never miss a news update, subscribe here. Follow us on Facebook, LinkedIn, Instagram and Twitter.

Business News Australia

Enjoyed this article?

Don't miss out on the knowledge and insights to be gained from our daily news and features.

Subscribe today to unlock unlimited access to in-depth business coverage, expert analysis, and exclusive content across all devices.

Support independent journalism and stay informed with stories that matter to you.

Subscribe now and get 50% off your first year!

Four time-saving tips for automating your investment portfolio
Partner Content
In today's fast-paced investment landscape, time is a valuable commodity. Fortunately, w...
Etoro
Advertisement

Related Stories

"Ugly" lemon and lime juice cube startup Naked Rivals squeezes $3m from angel investor

"Ugly" lemon and lime juice cube startup Naked Rivals squeezes $3m from angel investor

A husband-and-wife founder team, whose lemon and lime juice cubes s...

GreenFort, Gaw Capital join forces on $800m joint venture

GreenFort, Gaw Capital join forces on $800m joint venture

Brisbane-based alternative real estate fund manager GreenFort Capit...

Riverside backs Wollongong IT powerhouse VITG as M&A opportunities beckon

Riverside backs Wollongong IT powerhouse VITG as M&A opportunities beckon

Virtual IT Group (VITG), a Wollongong-based managed service provide...

Booktopia extends share trading suspension as critical funding announcement looms

Booktopia extends share trading suspension as critical funding announcement looms

Just as so many Booktopia (ASX: BKG) customers had to wait longer t...