Retail sales in Australia rose by a record amount in November following the easing of restrictions imposed following the COVID-19 lockdowns.
The Australian Bureau of Statistics‘ data revealed that consumers spent more during the Christmas season. The ARA stated that the new year will be challenging for retailers due to the rise of the Omicron variant.
The group noted that the rise of the Omicron variant might slow down new year spending.
People also went to the stores to avoid experiencing stock shortages and delivery delays.
Retail sales in November were driven by the strong performance of the household goods, clothing, and accessories retailing.
In November, spending at restaurants, cafés, and takeaway stores grew by a significant amount.
Company Quarterly Economic Statistics noted that the 7.3 percent increase was the fourth straight monthly gain.
They said that the easing of the COVID-19 restrictions in certain regions boosted the retail industry’s sales.
Victoria led the way with a 20.0 percent boost in sales. It was followed by South Australia’s 16.6 percent increase.
The easing of density and capacity constraints in the Australian Capital Territory and New South Wales led to rises in turnover.
The ABS noted that the Northern Territory’s sales fell 2.7 percent due to the restrictions imposed during the month.
Online sales remained strong at 12.5 percent of total sales in November. The ARA expected the new year’s sales to slow down due to the rise of the Omicron variant.
The ARA said that post-Christmas sales might not be as strong as expected due to the rise in cases of domestic violence and uncertainty.
The ARA said that some businesses have had to restrict their trading hours due to the rise of cases of employee shortages.
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