Strong retail figures point to bumper Christmas

Better-than-expected retail figures for November have experts confident Aussies will have splurged a record $51 billion over the Christmas season with spending driven higher by Click Frenzy, Black Friday and Cyber Monday events.

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Better-than-expected retail figures for November have experts confident Aussies will have splurged a record $51 billion over the Christmas season.

Retail spending in November rose 0.4 per cent to $27.12 billion for the month, driven higher by the Click Frenzy, Black Friday and Cyber Monday sales events.

Online sales comprised 6.6 per cent of the total spending during November — which the Australian Bureau of Statistics said up from the 5.5 per cent registered in November 2017.

Shoppers at Pitt Street Mall in Sydney. Picture: Dylan Coker

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“While much of November’s lift in retail spending will be attributed to sales events, such as Black Friday, Cyber Monday and Click Frenzy, buried in the release was a solid pick-up in spending on food and groceries,” CommSec economist Ryan Felsman said.

“Over the year to November, spending at supermarket and grocery stores was the strongest since November 2014.”

The Australian Retailers Association executive director Russell Zimmerman believes this spending surge has continued into December.

“Sales events in the month of November certainly contributed to a steady lead-in to the festive season, particularly for department stores and online retailing,” he said.

“Based on what we have seen and heard from retailers and our members, we believe the overall Christmas trade will indicate secure growth, with many large retailers noticing growth in-store.”

“We believe the figures released today represent an accurate preview of sales in the lead-up to the festive season,” Mr Zimmerman said.

NSW shoppers are tipped to have spent $16.6 billion of the $51 billion total.

The ARA along with Roy Morgan predict Aussie bargain hunters will have spent a whopping $51 billion nationally between November 9 and December 26.

NSW shoppers are tipped to have spent $16.6 billion of this total, leading Victoria’s $13.5 billion, Queensland’s $10.1 billion, South Australia’s $3.4 billion, Western Australia’s $5.4 billion, Tasmania’s $1 billion, the ACT’s $940 million, and Northern Territory’s $501 million.

Nationally the peak retail group expects Aussies will have spent $20.9 billion on food, $8.9 billion on household goods, $4 billion on apparel, $2.9 billion in department stores, $7.3 billion on hospitality, and $7.3 billion on other spending.

Myer retail operations director Tony Sutton said thousands of customers have coming into stores nationally, taking advantage of sales deals which have continued into January.

“Men’s business shirts have been selling really well with guys looking to update their wardrobe as they head back to work,” he told The Saturday Telegraph.

“Ladies are loving the hot price dress offer that includes great dresses from only $39.00 from on trend brands such as Piper, Vero Moda, Miss Shop and Wayne Cooper,” he said.

“Over the Stocktake Sale we will sell more than 200,000 dresses and the ladies are loving getting the perfect party dress for their summer festivities.”

Mr Sutton said Sheridan sheet sets have also been particularly popular, with the department store chain expecting to sell more than 60,000 sets of sheets and more than 200,000 bath towels during the sale.

“We also have great savings across our cosmetics and fragrance departments with up to 40 per cent off and have seen strong sales here particularly in Revlon products and fragrance gift sets,” he said.