Retail sales climb 2.7% in June

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on August 04, 2020
Retail sales climb 2.7% in June

Photo by Nicolas Weldingh on Unsplash

Retail sales jumped 2.7% in June but retail volumes dropped by 3.4% - the biggest fall since the introduction of GST in 2000.

Retail sales figures ticked higher in June, up 2.7% according to Australian Bureau of Statistics (ABS) retail trade figures released today.

It follows three months of extreme volatility that led to two record monthly gains and one record monthly decline of 17.9%.

Director of Quarterly Economy Wide Surveys Ben James said this followed a rise of 16.9% in May 2020.

"The June month saw the continued recovery of industries impacted by trading restrictions in April and early May," Mr James said. 

"There were large month-on-month rises in cafes, restaurants and takeaway food services (27.9%), and clothing, footwear and personal accessory retailing (20.5%)."

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            Food sales (0.9%) was lifted by a rise in sales in Victoria at the end of the month as panic buying on groceries resumed amid stage four lockdowns. 

            Spending in department stores fell 12.1% followed by household goods (3.2%). 

            Online sales remained high, making up 9.7% of total retail sales in June. 

            The June result beat forecasts of a 2.4% rise, but retail volumes still contracted by 3.4%.

            Mr James said this was the biggest fall in seasonally adjusted retail volumes since the introduction of GST in 2000.

            "The quarterly fall was driven by falls in cafes, restaurants and takeaway food services (-29.1%), and clothing, footwear and personal accessory retailing (-22.0%), which both saw very large falls in April," he said.

            "There were also falls in food retailing (-1.6%) following a March quarter rise, and Other retailing (-0.7%)."

            The ABS said the falls were slightly offset by a rise in household goods retailing (14.6%), with increased consumer demand for furniture, electrical goods and hardware. 

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            Emma Duffy is Assistant Editor at Your Mortgage and  Your Investment Property Mag, which are part of the Savings Media Group. In this role, she manages a team of journalists and expert contributors committed to keeping readers informed about the latest home loan and finance news and trends, as well as providing in-depth property guides. She is also a finance journalist at which she joined shortly after its launch in early 2019. Emma has a Bachelor in Journalism and has been published in several other publications and been featured on radio.


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