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Australian retail sales continue downward trend in March quarter

08 May '24
2 min read
Australian retail sales continue downward trend in March quarter
Pic: Adobe Stock

Insights

  • Australian retail sales volumes declined by 0.4 per cent in the first quarter of 2024, continuing a trend of year-on-year decreases.
  • Clothing, footwear, and accessories saw a notable increase of 1.3 per cent.
  • Retail prices rose by 0.6 per cent in the March quarter.
  • Only the Northern Territory and Tasmania recorded increases in retail volumes.
Australian retail sales volumes have experienced a decline in the March quarter of 2024, falling by 0.4 per cent from the previous quarter, according to the latest data from the Australian Bureau of Statistics (ABS). This downturn follows a modest rise of 0.4 per cent in the December quarter of 2023 and a decrease of 0.2 per cent in the September quarter of the same year.

Clothing, footwear, and personal accessory retailing saw the most significant increase at 1.3 per cent, followed by other retailing sectors which rose by 0.5 per cent.

The March quarter's results mark the fourth consecutive quarter of year-on-year declines, with retail volumes now 1.3 per cent lower than the same quarter in 2023. On a per capita basis, retail volumes have fallen for the seventh consecutive quarter, registering a 1 per cent drop from the previous quarter and a significant 3.6 per cent decline compared to last year, as per ABS.

Retail prices saw a noticeable increase, rising by 0.6 per cent in the March quarter, a rise from the 0.2 per cent increase seen in the December quarter, according to the consumer price index data.

Geographically, the majority of Australian states and territories experienced a fall in retail volumes. However, the Northern Territory and Tasmania bucked this trend, recording rises of 0.5 per cent and 0.3 per cent respectively.

“Retail sales volumes fell for the fifth time in the past six quarters. The only rise in volumes over the past 18 months was the December quarter last year as extensive discounting from Black Friday sales boosted volumes,” said Ben Dorber, ABS head of retail statistics.

Fibre2Fashion News Desk (DP)

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