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Australian retail turnover on the rise

The latest Retail Trade figures have been released by the Australian Bureau of Statistics, revealing a turnover rise of 1.2 per cent in September 2014.

The figure, seasonally adjusted, follows a 0.1 per cent rise in August 2014. The September 2014 turnover represents a 5.7 per cent rise, seasonally adjusted, from the same period last year.

Household goods retailing was found to be the largest contributor to the rise in turnover, amounting to a seasonally adjusted estimate rise of 4.1 per cent. The growth in household goods was attributed to electrical and electronic goods retailing, which saw a rise of 9.2 per cent. The ABS says the release of the iPhone 6 in September influenced the rise.

In seasonally adjusted terms, electrical and electronic goods retailing makes up around half of the 1.2 per cent turnover rise.

In original terms, the ABS found online retail turnover contributed 2.8 per cent to total retail turnover.

Cafes, restaurants and takeaway food services also saw a seasonally adjusted rise (2.0 per cent), along with department stores (1.3 per cent), food retailing (0.4 per cent) and clothing, footwear and personal accessory retailing (0.4 per cent).

“New South Wales recorded its biggest jump in sales since January – up 1.7 per cent,” said Anna McPhee, CEO of the Australian National Retailers’ Association (ANRA).

“New South Wales has moved strides ahead of the other states and territories – up 9.5 per cent for the year to September. This is much stronger than the long term average annual growth rate of 5.6 per cent.”

The Australian Capital Territory saw a seasonally adjusted rise of 1.9 per cent, followed by Victoria (1.3 per cent), Western Australian (1.3 per cent), South Australia (1.2 per cent), Tasmania (0.8 per cent), and Queensland (0.4 per cent). The Northern Territory was the only state to record a fall in retail turnover, seasonally adjusted to -0.6 per cent.

“September’s strong number is a positive sign for the sector, however retailers are careful not to get too excited just yet. The pattern of broad spending across the categories and states and territories certainly puts the retail sector in good stead to reach year-on-year growth of six per cent come December,” said Ms McPhee.

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Guillermo Troncoso

Guillermo Troncoso

Guillermo is the Editor of Dynamic Business and Manager of film &amp; television entertainment site ScreenRealm.com. Follow him on <a href="https://twitter.com/gtponders">Twitter</a>.

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