Retail sales jumped 7.1 per cent in November after a 1.4 per cent rise in October, as Black Friday kicked off the much-anticipated 2020 holiday season.
According to the latest figures by the Australian Bureau of Statistics, Aussies spent $31.6 billion during the month.
“The rise is led by Victoria (22.4 per cent) as Melbourne retail stores were able to trade for a full month in November,” said Ben James, ABS’ director of quarterly economy wide surveys.
Online sales made up 11 per cent of the total retail turnover, compared to 7.2 per cent a year prior and 10.4 per cent a month prior.
The result is impressive, but not surprising, with industry associations having noted the booming online sector would play a key role in the 2020 holiday period – the NRA estimated online would make up $5 billion of the $52.4 billion Aussies are likely to have spent across November and December.
And while the preliminary figures for December sales won’t be revealed until January 22, according to the ABS, early signs are looking good according Accenture’s Michelle Grujin.
“Early numbers would suggest that retailers have enjoyed a bumper Christmas period, but that’s been predominantly driven by the categories that [saw strong growth during 2020],” Grujin recently told Inside Retail.
In November, household goods retailing rose 12.7 per cent, clothing retail 26.7 per cent, and department stores 21.1 per cent. According to the ABS, the release of new iPhones and gaming consoles during the month added to the Black Friday sales spike.