Stuller Inc
advertisement
Stuller Inc
advertisement
Stuller Inc
advertisement
Goto your account
Search Stories by: 
and/or
 

News












Following 11 consecutive months of increasing turnover, the Australian Bureau of Statistics (ABS) has reported a 3.9 per cent decline in December of 2022. Image: Westfield
Following 11 consecutive months of increasing turnover, the Australian Bureau of Statistics (ABS) has reported a 3.9 per cent decline in December of 2022. Image: Westfield

Decline during holiday season for Australian retailers

Following 11 consecutive months of increasing turnover, the Australian Bureau of Statistics (ABS) has reported a 3.9 per cent decline in December of 2022.

ABS head of statistics Ben Dorber noted that in December of 2021 a similar change occurred, highlighting a decline of 3.7 per cent.

“Retail turnover remains elevated at its sixth highest level in the series and was up 7.5 per cent through the year,” said.

“The large fall in December suggests that retail spending is slowing due to high cost-of-living pressures.”

Ben Dorber, ABS
Ben Dorber, ABS
“The large fall in December suggests that retail spending is slowing due to high cost-of-living pressures.”
Ben Dorber, ABS

Dorber added that many businesses have reported consumers took advantage of promotional activity and discounting during ‘Black Friday’ (24 November) and completed more Christmas shopping in November.

“While there was a strong rise in original terms for December, as is expected in the lead up to Christmas, this year’s rise in original terms was smaller than those typically seen in past December months. This has led to the large seasonally adjusted fall,” he said.

The most significant change in turnover was recorded in Victoria and Western Australia, both decreasing by 4.7 per cent.

After collecting data from more than 400 POS systems across Australia, Retail Edge released its jewellery retail analysis for December, noting that comparative overall sales dollars were steady on a year-by-year comparison with 2021, improving by 0.6 per cent.

In January, Retail Edge reported an unusual reversal of pattern between two key areas of sales analysis.
 

More reading
Australian jewellery sales steady in December
Sales dip during November for Australian jewellers
Third consecutive month of strong sales for local jewellers
Another major month of rising sales for Aussie retailers
Significant rise in sales for Australian jewellery retailers
 


SAMS Group Australia
advertisement





Read current issue

login to my account
Username: Password:
Clear Neutral
advertisement
Jeweller Magazine
advertisement
Diamonds on Call
advertisement
© 2024 Befindan Media