Growth in Australia Retail
18 January 2016 by News Desk
Retail sales in Australia increased by 4.3% in 2015 driven by household goods and rising growth of online sales.
Retail turnover increased to a record $24.77 billion in November with growth rising in line with the Australian housing market. Retail sales across the country have risen by more than $1 billion each year since 2012.
Current growth in retail sales is well ahead of the five year average of 3.4%.
Retailers in Victoria have seen biggest rise in sales, at 6%, while New South Wales has seen sales increases of 4.7% in the past 12 months, driven in part by the ‘wealth effect’ of rising house prices in the states.
Retailers in South Australia, Western Australia and the Northern Territory have seen a slight fall in retail sales, reflecting subdued economic activity on these states.
Consumables account for much of the increase in retail turnover, at 6.6% of total sales, but there’s been a recent big rise in sales of household goods driven by rising online purchases.
All industry groups have seen solid growth in retail turnover but department stores have faced major competition as online retailers lure customers away from traditional outlets.
