Australian retail turnover experienced a rise of 0.5% in July 2023 (seasonally adjusted), as per data unveiled by the Australian Bureau of Statistics (ABS).
Ben Dorber, Head of Retail Statistics at ABS, stated that this increase in July partially counteracted the significant decline in turnover observed in the previous month. This decline was attributed to weaker-than-usual end-of-financial-year sales.
This recent rise follows a 0.8% decline in June 2023 and a 0.8% increase in May 2023.
Despite the increase in July, the underlying growth in retail turnover remained subdued. In terms of trend, retail turnover showed no change in July and only a 1.9% increase compared to July 2022, even with substantial price growth over the past year.
Among non-food industries, several sectors rebounded in July following notable declines in June. Department stores experienced the largest increase (+3.6%), followed by clothing, footwear, and personal accessory retailing (+2.0%), as well as other retailing (+0.3%). However, household goods retailing recorded a second consecutive fall (-0.2%), marking the eighth monthly decline within the last 12 months.
Spending related to food showed mixed results, with cafes, restaurants, and takeaway food services experiencing an increase (+1.3%), while food retailing remained unchanged.
Dorber highlighted that the turnover from cafes, restaurants, and takeaway food services grew significantly, despite an overall slowdown in food-related spending in recent months. The boost in July was attributed to increased spending at catering and takeaway food outlets, connected to the 2023 FIFA Women’s World Cup and school holidays.
The state and territory analysis of retail turnover displayed a mix of results, with New South Wales, Victoria, Queensland, and the Australian Capital Territory observing an increase in July, recovering from notable declines in June.
Further details about the July reference period, including state-by-industry breakdowns and online sales data, will be released on September 1, 2023. The ABS expressed gratitude to businesses for their continuous participation in responding to surveys.
https://www.abs.gov.au//media-centre/media-releases/retail-turnover-05-cent-july