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Summary
- Reopening of physical stores resulted in rise in sales for cafes, restaurants and takeaway food service.
- Rise in sales was seen in states like Victoria state and territory, New South Wales, Western Australia, South Australia.
- Retail turnover surged 7.1 per cent at the national level as compared to October last year.
Australia’ retail sales have returned to growth, rising 1.4 per cent in the month of October 2020, seasonally adjusted. The latest figure updates the preliminary result of 1.6 per cent, which follows a decline of 1.1 per cent in the month of September, according to the latest Retail Trade figures released by the Australian Bureau of Statistics (ABS) on Friday.
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Commenting on the latest update, Ben James, Director of Quarterly Economy Wide Surveys, ABS, said that national rises in sales were seen for cafes, restaurants and takeaway food services, clothing, footwear, department stores, among others after the reopening of the physical stores in the states of Victoria. Fall of 1.0 per cent was recorded in the sales of household goods in the month of October. However, these continued to record high levels of turnover as against last year.
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With the economy slowly returning on track amid the coronavirus crisis, the majority of states across the country recorded a surge in retail sales figures. In October, a surge in retail sales was recorded in Victoria (5.1 per cent) state and territory, New South Wales (0.7 per cent), South Australia (0.6 per cent) and Western Australia (1.0 per cent). The sales fell for Queensland (-0.5 per cent), Tasmania (-1.4 per cent), the Northern Territory (-0.6 per cent) fell, while figures remained relatively unchanged for the Australian Capital Territory (-0.1 per cent).
READ MORE: NAB Online Retail Sales Index contracts 0.7% in October
The retail turnover saw a rise of 7.1 per cent at the national level as compared to October last year. The online sales accounted for 10.4 per cent of the total retail turnover in the month of October as against 10.6 per cent in September. The online retail turnover contributed 6.6 per cent to total retail in October 2019.
