Black Friday sales
Retail turnover jumped by a seasonally adjusted +0.9 per cent to November 2019 to a record $27.91 billion, following on from the almost flat result in October.
Total monthly turnover increased by +3¼ per cent year-on-year as there was a monthly spike in sales of personal accessories, household goods, and at department stores.
Although monthly turnover went backwards in the recessionary Northern Territory, South Australia (+1.4 per cent), Queensland (+1.2 per cent), and Victoria (+1.1 per cent) led the way in November.
Online sales jumped to a record 7.1 per cent of turnover, well up from 6.6 per cent a year earlier, suggesting some ongoing pain in the post for traditional bricks and mortar retailers.
Overall, this was a nice surprise to the upside, although Black Friday hasn't been around for long so the seasonal adjustment factor must to some extent be a judgement call.
Given that Black Friday likely pulls forward some activity from December, the true picture will more likely become evident when the December figures are in for the full fourth quarter.
Recall that in November 2017 retail sales surged on the iPhone X release, only to record a negative -0.5 per cent result the very next month.
Recall that in November 2017 retail sales surged on the iPhone X release, only to record a negative -0.5 per cent result the very next month.
