Strong boost in Australian retail sales in October, says ABS data

Retail sales improved in October, with cosmetics, sports and recreational goods leading the increase, Australian Bureau of Statistics (ABS) data showed.

Retail sales during the month climbed 3.4 per cent year on year to $36.7 billion, with other retailing – which includes cosmetics, sports and recreational goods – soaring 8.4 per cent to $5.85 billion.

Household goods rose 3.3 per cent to $5.92 billion while food increased 3 per cent to $14.53 billion.

Cafes, restaurants, and takeaways grew 2.3 per cent to $5.48 billion, while clothing, footwear and accessories increased 1.7 per cent to $3.02 billion, and department stores climbed 0.4 per cent to $1.91 billion.

“In a trend that shows shifting consumer habits due to the cost-of-living crunch, some Australians used October to plan for the holiday season early by beginning to stock up on gifts and make their purchases earlier than last year to assist with budgets,” said Fleur Brown, chief industry officer at the Australian Retailers Association (ARA).

“With record growth predicted for Black Friday and Cyber Monday sales, we’re hopeful of a better November to give confidence to retailers as they look towards the New Year.”

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