Black Friday sales lift retail turnover in November

Australian retail turnover rose 2.0 per cent (seasonally adjusted) in November 2023, according to figures released today by the Australian Bureau of Statistics (ABS).

This follows a fall of 0.4 per cent in October 2023 and a rise of 1.0 per cent in September 2023.

Robert Ewing, ABS head of business statistics, said: “Black Friday sales were again a big hit this year, with retailers starting promotional periods earlier and running them for longer, compared to previous years.

“The strong rise suggests that consumers held back on discretionary spending in October to take advantage of discounts in November. Shoppers may have also brought forward some Christmas spending that would usually happen in December.

“The popularity of Black Friday events is affecting spending patterns in the lead up to Christmas. This causes more volatile monthly movements in seasonally adjusted data. We’ve released an article this month that explains how these changes are affecting the seasonality of retail turnover.”

There were rises in all retail industries in November, but it was spending on discretionary goods boosted by Black Friday sales that drove most of the increase. Household goods retailing rose 7.5 per cent, followed by department stores (4.2 per cent); clothing, footwear and personal accessory retailing (2.7 per cent); and other retailing (1.1 per cent).

“Retailers told us that the success of Black Friday sales was boosted by consumers seeking out discounts in response to cost-of-living pressures,” Mr Ewing said.

Both food-related industries rose in November, with cafes, restaurants and takeaway food services and food retailing each rising 0.4 per cent.

Retail turnover grew across the country with large rises in all states and territories. South Australia (2.8 per cent) had the largest rise, followed by Victoria (2.4 per cent), with both states recording a fall in October.

“It’s clear that spending during Black Friday sales continues to grow across the country, with retail turnover increasing by more than one per cent in all states and territories,” Mr Ewing said.

The ABS would like to thank businesses for their continued support in responding to our surveys.