Warm August lifts retail spending
Australian retail turnover rose 0.7 per cent in August 2024, according to seasonally adjusted figures released today by the Australian Bureau of Statistics (ABS).
This followed growth of 0.1 per cent in July 2024 and 0.5 per cent in June 2024.
Robert Ewing, ABS head of business statistics, said: “Retail spending was boosted this month by warmer-than-usual weather for this time of year.
“This year was the warmest August on record since 1910, which saw more spending on items typically purchased in spring. This included summer clothing, liquor, outdoor dining, hardware, gardening items, camping goods and outdoor equipment.”
Trend estimates from March 2020 to June 2022 are not available due to the degree of disruption and volatility caused by COVID-19. Trend estimates throughout the pandemic period are likely to be unhelpful and potentially misleading for users in interpreting underlying trend in retail activity.
Turnover rose in most industries.
Of the non-food industries, department stores (1.6 per cent) had the largest rise, followed by clothing, footwear and personal accessory retailing (1.5 per cent) and other retailing (1.3 per cent).
“The lift in turnover from the warmer weather was also boosted by higher discretionary spending as consumers took advantage of Father’s Day sales events during the month,” Mr Ewing said.
Household goods retailing (-0.3 per cent) was the only industry to fall, following heightened spending in recent months due to mid-year sales.
Both food-related industries rose, led by cafes, restaurants and takeaway food services (1.0 per cent), followed by food retailing (0.6 per cent).
“More people were out dining at cafes and restaurants enjoying the warm end to the winter months, which also boosted spending on alcohol consumed at home,” Mr Ewing said.
Retail turnover growth was consistent across the country with rises in all states and territories.
“While the Eastern mainland states led the rises, most states and territories benefitted from the earlier-than-usual spring temperatures. Although, some unseasonal rainfall over parts of Western Australia dampened sales slightly,” Mr Ewing said.
The ABS would like to thank businesses for their continued support in responding to our surveys.
Media notes
- Revisions to seasonally adjusted estimates are due to concurrent methodology, which reflects improvements in the data as changes in the seasonal pattern become clearer and distinct from irregular events. For further information, please refer to the article released in November explaining the effect of changes in the seasonality of retail turnover and the seasonality in retail turnover section of survey impacts and changes.
- Seasonal adjustment is the process of estimating and removing seasonal effects to allow comparison of data for adjacent months. This includes a Father's Day effect, which is caused when the first Sunday in September falls in the first few days of the month, and Father's Day shopping occurs in August. See methodology for more details.
- The trend series attempts to measure underlying behaviour in retail activity. It is recommended that trend estimates be used alongside the seasonally adjusted headline measure to analyse and understand underlying activity in retail spending over the longer term. See methodology for more details on trend estimates.
- A media statement on Thursday 23 November 2023 announced that the ABS would be ceasing the publication of Retail Trade, Australia in July 2025. For more information, please visit the Future cessation of the Retail Business Survey and Retail Trade Publication webpage.
- When reporting ABS data you must attribute the Australian Bureau of Statistics (or the ABS) as the source.
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