Black Friday Boosts Australian Retail Turnover in November

Highlights:

• Australian retail turnover witnessed a robust 2.0% increase in November 2023, rebounding from a 0.4% decline in October, with the success of Black Friday sales being a key factor.
• Household goods retailing led the growth with a substantial 7.5% rise, followed by department stores (4.2%) and clothing, footwear, and personal accessory retailing (2.7%), showcasing the impact of Black Friday on discretionary goods.
• Retail turnover grew across all states and territories, with South Australia experiencing the largest rise at 2.8%, followed by Victoria at 2.4%. The data indicates a nationwide trend of increased spending during Black Friday events, influencing overall retail turnover.

Australian retail turnover surged by 2.0% (seasonally adjusted) in November 2023, rebounding from a 0.4% dip in October. The Australian Bureau of Statistics (ABS) attributes this rise to the success of Black Friday sales, with retailers extending promotional periods. Robert Ewing, ABS's head of business statistics, notes that consumers, possibly impacted by cost-of-living pressures, delayed discretionary spending in October to capitalize on discounts in November. The shift in spending patterns, influenced by Black Friday events, led to increased volatility in monthly data.

Industry Growth and Impact on Discretionary Goods

All retail sectors experienced growth, with the largest boost seen in household goods retailing (7.5%), followed by department stores (4.2%) and clothing, footwear, and personal accessory retailing (2.7%). Retailers reported that Black Friday success was fueled by consumers actively seeking discounts.

National Growth and State Breakdown

Retail turnover expanded nationwide, with significant increases in all states and territories. South Australia led with a 2.8% rise, followed by Victoria at 2.4%. The ABS anticipates continued growth in Black Friday spending, evidenced by over a 1% increase in retail turnover across all regions.

Conclusion and Future Updates

The ABS acknowledges the impact of Black Friday on Australian retail and expresses gratitude for businesses' support in survey responses. Notably, the ABS plans to cease the publication of Retail Trade, Australia, in August 2025, as announced in November 2023. Subsequent releases will return to a dual-format, and revisions to seasonally adjusted estimates are part of the ongoing commitment to data accuracy.

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