November shopping now bigger than Christmas
The AFR reports that November has overtaken December as the biggest shopping month of the year. Retail spending in November overtook sales in December for the first time in 2016 and the trend gathered pace in 2017, with seasonally adjusted retail sales rising 1.3% to $26.39 billion – the strongest monthly growth for the year – while December sales fell 0.6% to $26.25 billion. We think that this is actually good news for retailers, as the trend spreads the peak traffic over two months, reducing the pressure. It also tells us that retailers need to start preparing for peak trading even earlier next year.