Black Friday sales boosted retail spending in November
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The news: Australian retail turnover rose 0.8% in November 2024, short of average forecasts of 1% growth, according to new figures from the Australian Bureau of Statistics (ABS).
The numbers: The rise follows growth of 0.5% in October and 0.4% in September.
There were rises in all retail industries in November. Of the non-food related industries, department stores rose 1.8%, followed by clothing, footwear and personal accessory retailing (1.6%), household goods retailing (0.6%), and other retailing (0.3%).
Both food-related industries rose. Cafes, restaurants and takeaway food services (1.5%) had its fourth straight monthly rise, while food retailing rose 0.5%.
The context: The ABS attributed the growth in turnover to the impact of Black Friday sales, with discounting across clothes, furniture, electrical goods and cosmetics.
Food retailing businesses were also boosted by higher spending due to Black Friday price cuts and points incentives through rewards programs.
Retail turnover rose in all states and territories. The Northern Territory bounced back from two straight monthly falls following the end of the peak tourism season and adverse weather to see the largest rise of all states and territories.
What they said: "Black Friday sales events proved once again to be a big hit, with widespread discounting and higher spending across all retail industries," said Robert Ewing, ABS head of business statistics.
"The popularity of Black Friday sales continues to grow with promotional activity now stretching across the entire month of November, not just solely focused on the Black Friday weekend."
The source: ABS media release
