Australian retail trade sees steady growth in June 2024

Australia saw a steady increase in retail trade for June 2024, according to the Australian Bureau of Statistics (ABS). The seasonally adjusted estimate rose by 0.5 per cent month-on-month (MoM) and increased by 2.9 per cent compared to June 2023. However, in volume terms, the seasonally adjusted estimate fell by 0.3 per cent in the June quarter of 2024.

The clothing, footwear, and personal accessory retailing sector saw a notable rise of 0.7 per cent, equating to an increase of $19.9 million in June. Within this sector, clothing retailing experienced a 0.9 per cent rise, adding $18.3 million, while footwear and other personal accessory retailing grew by 0.2 per cent, contributing an additional $1.6 million, as per ABS.

Household goods retailing demonstrated robust growth, rising by 1.1 per cent, which translated to a $62.2 million increase in June. Department stores also performed well, with a 1 per cent rise, amounting to an $18.3 million increase. Other retailing categories collectively saw a 1 per cent increase, adding $54.8 million to the overall retail trade figures for June.

Total online retailing sales were $4.227 billion in June 2024, in seasonally adjusted terms. Seasonally adjusted online sales rose 1.5 per cent ($62.4 million), following a fall of 2 per cent (minus $83 million) in May 2024. Seasonally adjusted through-the-year sales are up 7.5 per cent ($294.5 million). Original online sales were relatively unchanged ($0.4 million) in June 2024 compared to a fall of 1 per cent at the same time last year. 

Retail volumes on a per capita basis fell for the 8th straight quarter, down 0.9 per cent (minus $32.8) with retail spending on a per person basis down 3 per cent (minus $109.0) compared to this time last year. Retail volumes per capita were down to its lowest level since the September quarter 2021 having peaked in the June quarter 2022.

Fibre2Fashion News Desk (DP)