Invest
Christmas shopping not as popular as Black Friday bargains
Consumers are continuing to move their Christmas spending to November, with Black Friday sales trumping December retail sales, new research has revealed.
Christmas shopping not as popular as Black Friday bargains
Consumers are continuing to move their Christmas spending to November, with Black Friday sales trumping December retail sales, new research has revealed.
The latest figures from the Bureau of Statistics (ABS) showed that retail sales dropped 4.1 per cent on the month to $30.4 billion in December 2020.
This followed a strong November, with growth of 7.1 per cent, as customers snapped up Black Friday and Cyber Monday sales and ramped up their online shopping.
However, retail spending in annual terms remains at elevated levels, having gained 9.6 per cent on the year in December 2020.
“Victoria (-6.8 per cent) led falls at the state and territory level following stronger trade in November as COVID-19 restrictions eased,” Ben James, director of quarterly economy wide surveys at the ABS, said.
“New South Wales (-4.9 per cent) also fell as the Northern Beaches cluster impacted spending in the lead-up to Christmas,” he said.
Following strong November figures, five of the six industries fell in December, led by household goods retailing, which clocked an 8.3 per cent loss.
Clothing, footwear and personal accessory retailing (-9.4 per cent), department stores (-12.5 per cent), food retailing (-1.7 per cent) and other retailing (-4.4 per cent) also fell in December.
Cafes, restaurants and takeaway food services (3.2 per cent) was the only industry to rise in December.
Online sales made up 9.1 per cent of total retail sales in December 2020. Online contributed 6.6 per cent in December 2019.
Overall, for the final quarter of the calendar year, Victorians emerging from lockdown were the strongest spenders, adding 12.8 per cent over the December quarter, suggesting that some shoppers were happy to splash their cash when businesses opened back up.
But the national 2.5 per cent growth figure trails off from the 6.5 per cent rise in retail volume recorded over the September quarter.
Mr James said that “without the Victorian rise, seasonally adjusted volumes would have fallen in the December quarter 2020”.
RELATED ARTICLES
About the author
About the author
Spending
Moneysmart study reveals Gen Z women more concerned about finances than men
A new research conducted by ASIC’s Moneysmart has unveiled the heightened levels of stress and concern regarding finances and the cost of living among Australian Gen Z women compared to their male ...Read more
Spending
The cost of politeness: Aussies out of pocket by $1,350 due to 'awkward tax'
It's the time of year when Australians dive into their pockets for festive events and gatherings, yet a recent study by PayPal suggests that many are too polite, or perhaps too embarrassed, to ask for ...Read more
Spending
Aussies can ‘NAB Now Pay Later’ with the last major bank to embrace BNPL
NAB has become the latest bank to enter the BNPL market. Read more
Spending
Aussie households spent $368 a week on transport after petrol price surge
Fuel costs have increased by 40 per cent over the past year, a new report from the Australian Automobile Association has revealed. Read more
Spending
Voters say reducing the cost of living should be the government’s top priority
Aussies have ranked high cost of living as the top issue that needs to be addressed by the next government. Read more
Spending
Bodies back Labor’s commitment to stronger BNPL regulation
All parties should commit to stronger regulations for the BNPL sector, according to Financial Counselling Australia. Read more
Spending
Household spending surges led by retail and recreation
Spending on retail, recreation and hospitality have continued to climb as COVID-19 case numbers and restrictions have eased. Read more
Spending
Banks extend financial assistance to flood-affected customers
A range of assistance is available from major banks to those impacted by flooding in NSW and Queensland. Read more
Spending
Moneysmart study reveals Gen Z women more concerned about finances than men
A new research conducted by ASIC’s Moneysmart has unveiled the heightened levels of stress and concern regarding finances and the cost of living among Australian Gen Z women compared to their male ...Read more
Spending
The cost of politeness: Aussies out of pocket by $1,350 due to 'awkward tax'
It's the time of year when Australians dive into their pockets for festive events and gatherings, yet a recent study by PayPal suggests that many are too polite, or perhaps too embarrassed, to ask for ...Read more
Spending
Aussies can ‘NAB Now Pay Later’ with the last major bank to embrace BNPL
NAB has become the latest bank to enter the BNPL market. Read more
Spending
Aussie households spent $368 a week on transport after petrol price surge
Fuel costs have increased by 40 per cent over the past year, a new report from the Australian Automobile Association has revealed. Read more
Spending
Voters say reducing the cost of living should be the government’s top priority
Aussies have ranked high cost of living as the top issue that needs to be addressed by the next government. Read more
Spending
Bodies back Labor’s commitment to stronger BNPL regulation
All parties should commit to stronger regulations for the BNPL sector, according to Financial Counselling Australia. Read more
Spending
Household spending surges led by retail and recreation
Spending on retail, recreation and hospitality have continued to climb as COVID-19 case numbers and restrictions have eased. Read more
Spending
Banks extend financial assistance to flood-affected customers
A range of assistance is available from major banks to those impacted by flooding in NSW and Queensland. Read more
