Online Retail Turnover in November "Highest Level Recorded"

Retailers get a boost from Black Friday sales, as shoppers bring forward Christmas spending

Takings at the till dipped by 3 per cent compared to November 2017, dropping further than Bloomberg's 2.4 per cent forecast.

Household Products Australian shoppers boost November retail sales to five-month highs Retail sales rose a seasonally adjusted 0.4 percent in November from October, data from the Australian Bureau of Statistics showed on Friday.

"Our combined research with Roy Morgan forecasted a 2.9 percent increase in pre-Christmas sales, as we projected shoppers to spend $51 billion from retail stores across the country from November 9 to December 26, 2018", he said.

Sales at petrol service stations increased 3.1 per cent as a result of higher petrol prices, but recorded a small decline of 0.7 per cent in sales volume after removing the price effect.

"More Australians are shopping online, with the ABS estimating that 6.6 per ent of total spending was done on the web in November, up from 5.5 per cent of total spending in November 2017", she said.

Turnover also increased by 0.6%, 0.4% and 0.1% respectively in Western Australia, Queensland and Victoria, offsetting declines of 0.9% and 0.2% respectively in the Northern Territory and Tasmania. South Australia was relatively unchanged (0.0 per cent). The steep slowdown, leaving annual growth in sales at the weakest level since May previous year, reflects the high base effect created by a huge 1.2% increase in turnover that occurred in November 2017.

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Compared to the same period in 2017, sales of food and beverage services increased 2.4 per cent in November past year.

Just this month apparel retailer Kathmandu posted weaker-than-expected Christmas sales in Australia and New Zealand, disappointing investors who sent its shares to 10-month lows. Research from Criteo that was released well before Christmas also suggested that consumers would start making purchase decisions as early as October, ready to process their online transactions during November's online sales events.

Better-than-expected results stem from Black Friday and Click Frenzy sales, with household goods and clothing amongst the most in demand segments.

"Reports from retailers, e.g".

"As such, markets will likely interpret any strong November Retail Sales outcome with a degree of caution - a solid result could easily be offset by a weaker December result due to these shifting seasonal spending patterns".

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