Retail turnover falls 0.2 per cent in October: Australia

Australian retail turnover fell 0.2 per cent in October 2023, according to seasonally adjusted figures released today by the Australian Bureau of Statistics (ABS).

This follows rises of 0.9 per cent in September 2023 and 0.2 per cent in August 2023.

Ben Dorber, ABS head of retail statistics, said: “Retail turnover fell in October after a short-lived boost in spending in September.

“Turnover was down in all retail categories except food retailing.

“It looks like consumers hit the pause button on some discretionary spending in October, likely waiting to take advantage of discounts during Black Friday sales events in November. This is a pattern we have seen develop in recent years as Black Friday sales grow in popularity.”

Food retailing (+0.5 per cent) was the only retail industry to record a rise this month.

Meanwhile, all non-food related retail industries fell in October, reversing last month’s rises. Clothing, footwear and personal accessory retailing (-1.0 per cent) recorded the largest fall of the non-food industries, followed by household goods retailing (-0.6 per cent), department stores (-0.6 per cent), and other retailing (-0.4 per cent).

Cafes, restaurants and takeaway food services (-0.4 per cent) recorded a second straight fall.

“Spending in cafes, restaurants and takeaway food services has slowed in recent months in response to rising food prices and cost-of-living pressures. It is now back to a similar level to what we saw in July 2023,” Mr Dorber said.

Retail turnover growth was mixed across the country, with five states and territories recording a fall. Victoria (-0.8 per cent), New South Wales (-0.5 per cent), and the Australian Capital Territory (-0.5 per cent) each recorded their first monthly fall in retail turnover since June 2023.

Additional information on the October reference period will be released on 4 December 2023.

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