November 2018 retail statistics
My Business reported on the latest retail turnover figures from the ABS, stating that they paint a bleak picture for bricks and mortar retailers. Covering November 2018, which included the Black Friday sales, the ABS said that retail turnover surged by 0.4 of a percentage point for the month, increasing on the 0.3 of a percentage point rise recorded in October. Online sales reached their highest level ever recorded in the ABS series, accounting for 6.6% of total retail turnover. A big jump from the 5.5% contribution that online sales made in the same month just a year earlier. However, as usual, the media neglected to include the YoY figures, with retail sales growing approximately 3.6% in November 2018 over the previous year it paints a much more balanced picture. All eyes will be on the December retail figures, to deliver a real snapshot of the state of the retail industry and consumer spending.