Retail sales decline before Melbourne Cup
Inside Retail presents the Australian Retail Index.
The index gives a quick overview of retail statistics in four key categories; fashion and accessories, furniture and homewares, sporting and recreational, and other.
Key retail statistics are shown weekly, with yearly comparisons available.
In the week leading up to the Melbourne Cup, overall retail sales fell by almost 5 per cent compared to the previous week. This was largely due to sharp declines in fashion and accessories and furniture and homewares.
Furniture and homewares saw the most significant decline, down 13.17 per cent compared to the previous week. In contrast, furniture and homewares was up almost 13 per cent during the same period last year.
The lead up to Melbourne Cup did not give fashion and accessories retailers the lift they were hoping for with sales down 12.84 per cent compared with the previous week. At the same time last year, sales in this category were down almost 5 per cent. We will keep a close eye on movements in the category as Christmas approaches.
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