Australian Bureau of Statistics data reveals an uptick in retail spending for October, with turnover well above where it was this time last year.
Despite small fluctuations over the past few months, retail spending for October finished 16 per cent higher overall than in 2019.
This surge in spending was driven by the significant levels of fiscal stimulus pumped into the WA economy by the Federal Government. CCIWA estimates this stimulus has well exceeded $15 billion.
CCIWA Chief Economist Aaron Morey says bricks and mortar sales are also still lagging behind online sales.
“It’s critical that we encourage shoppers back into our stores and cities.”
Google mobility data reveals retail traffic in Perth is still lower than the same time last year.
While all retail categories remain elevated on a year-on-year basis, categories that recorded falls over the month include:
- Supermarket and grocery stores – down 0.7 per cent.
- Household goods – down 1.1 per cent.
- Footwear – down 1.7 per cent.
Categories that recorded improvements over the month include:
- Clothing – up 5.4 per cent.
- Liquor – up 5.1 per cent.
- Newspaper and books– up 5 per cent.
Online sales remain elevated, making up 10.4 per cent of total retail sales in October 2020. Online contributed 6.6 per cent in October 2019.
Victoria (5.1 per cent) led state and territory rises, and there were also rises for New South Wales (0.7 per cent), and South Australia (0.6 per cent) in October 2020.
Queensland (-0.5 per cent), Tasmania (-1.4 per cent), the Northern Territory (-0.6 per cent) fell, while the Australian Capital Territory (-0.1 per cent) was relatively unchanged.