Save
Black Friday turns to gold for Australian retailers
The much-hyped Black Friday sales have proven to be retail gold, with a significant lift in consumer spending, according to official figures.

Black Friday turns to gold for Australian retailers
The much-hyped Black Friday sales have proven to be retail gold, with a significant lift in consumer spending, according to official figures.

Australian retail turnover rose by 0.9 per cent in November 2019, seasonally adjusted, which was double the expected 0.4 per cent boost in consumer spending.
“We have seen strong growth in Black Friday sales, both in areas such as electrical goods and online sales, but also in areas such as clothing and furniture,” said Ben James, director of Quarterly Economy Wide Surveys.
“While seasonal adjustment removes regular seasonal patterns associated with Black Friday based on prior results, the strong seasonally adjusted rises in a number of sub-groups this month show that the impact of this Black Friday exceeded that of previous years,” Mr James continued.
However, a UBS economist believes December numbers will be vital as Christmas spending in December might have been brought forward to November to take advantage of the sales.
“Indeed the December retail PSI collapsed after spiking higher in November, suggesting a retracement in retail sales in December is likely. While the rise in November retail sales is clearly a positive sign for consumption, it is too early to make a clear assessment for Q4 ahead of likely payback in December.
There were rises for clothing, footwear and personal accessory retailing (3.1 per cent), food retailing (0.5 per cent), household goods retailing (1.2 per cent), department stores (3.4 per cent) and cafes, restaurants and takeaway food services (0.9 per cent). These rises were partially offset by a fall in other retailing (-0.5 per cent).
In seasonally adjusted terms, there were rises in Victoria (1.1 per cent), Queensland (1.2 per cent), NSW (0.7 per cent), South Australia (1.4 per cent), Western Australia (0.5 per cent), the ACT (0.7 per cent) and Tasmania (0.4 per cent). The Northern Territory (-0.2 per cent) fell in seasonally adjusted terms in November 2019.
The trend estimate for Australian retail turnover rose 0.3 per cent in November 2019, following a 0.3 per cent rise in October 2019. Compared with November 2018, the trend estimate rose 2.9 per cent.
About the author

About the author


Expenses
Price no longer the prime factor for energy bills
Many Australians are intrigued but unconvinced when it comes to greening their energy bill. ...Read more

Expenses
1 in 2 Aussie pet owners spends on their pets more than themselves
Does owning a pet eat into your monthly budget? You’re not alone. ...Read more

Expenses
The real reason Sydney’s petrol prices are so high
Sydney fuel prices may seem like they’re soaring, but a recent study indicates that they may be cheaper than you think. ...Read more

Expenses
Morrison backs big pharma, turns back to developing countries
Big pharma is currently fighting to maintain intellectual property protections over COVID-19 vaccines, with Australia refusing to act despite having no pharmaceutical companies. ...Read more

Expenses
Half-price flight scheme launches today
Aussies are being offered half-price flights as the government looks to spur domestic travel to regions it has defined as key to economic recovery. ...Read more

Expenses
Insurance prices rise despite payout falls
The COVID-19 pandemic has seen insurer payouts fall by $500 million, but Australian consumers are continuing to pay more, the consumer watchdog has revealed. ...Read more

Expenses
CBA cops civil proceedings for overcharged interest
ASIC has commenced civil penalty proceedings in the Federal Court against the Commonwealth Bank over the bank charging an interest rate on business overdraft accounts that was substantially higher tha...Read more

Expenses
What are the top 10 most expensive cities in the world?
Logistical issues and currency fluctuations caused by the COVID-19 pandemic has seen the most expensive cities in the world drastically change, new research has revealed. ...Read more

Wrapping up an eventful 2021
Listen now

What Omicron means for property, and are units right for first-time buyers? What is equity crowdfunding? Are industry super funds tapping into member funds to save their skins?
Listen now

Will housing affordability improve in 2022? Will buy now, pay later become the norm? Why are Aussies staying in failing super products?
Listen now

Who really benefits from crypto ETFs? How will the RBA respond to rising inflation? Could a mandate help address unpaid super?
Listen now

Expenses
Price no longer the prime factor for energy bills
Many Australians are intrigued but unconvinced when it comes to greening their energy bill. ...Read more

Expenses
1 in 2 Aussie pet owners spends on their pets more than themselves
Does owning a pet eat into your monthly budget? You’re not alone. ...Read more

Expenses
The real reason Sydney’s petrol prices are so high
Sydney fuel prices may seem like they’re soaring, but a recent study indicates that they may be cheaper than you think. ...Read more

Expenses
Morrison backs big pharma, turns back to developing countries
Big pharma is currently fighting to maintain intellectual property protections over COVID-19 vaccines, with Australia refusing to act despite having no pharmaceutical companies. ...Read more

Expenses
Half-price flight scheme launches today
Aussies are being offered half-price flights as the government looks to spur domestic travel to regions it has defined as key to economic recovery. ...Read more

Expenses
Insurance prices rise despite payout falls
The COVID-19 pandemic has seen insurer payouts fall by $500 million, but Australian consumers are continuing to pay more, the consumer watchdog has revealed. ...Read more

Expenses
CBA cops civil proceedings for overcharged interest
ASIC has commenced civil penalty proceedings in the Federal Court against the Commonwealth Bank over the bank charging an interest rate on business overdraft accounts that was substantially higher tha...Read more

Expenses
What are the top 10 most expensive cities in the world?
Logistical issues and currency fluctuations caused by the COVID-19 pandemic has seen the most expensive cities in the world drastically change, new research has revealed. ...Read more