Good news for Australian retailers, as spending rose over June
The few warm spells over June didn’t seem to deter shoppers from snapping up the latest winter threads, as retail spending for June showed the largest rise since January, according to the Australian National Retailers’ Association (ANRA).
Clothing had the strongest improvement, up 2.6%, however department stores were down 0.4% for the month. Recent research from IBISWorld showed brands like fast fashion giants H&M, Topshop and Zara and premium brands Chanel and Louis Vuitton are expected to outperform the wider Australian retail industry in the next five years.
ANRA CEO Margy Osmond said June’s figures provided a healthy surprise to retailers at a time where consumer confidence remained weak. “If June’s strength continues and momentum carries forward in the second half of the year, we would expect retail sales to be up 6% (year-on-year) by the end of the year.”
ANRA study showed furniture, floor coverings and textiles also contributed to the positive result for the household goods category rising 2.2%. Osmond said the lift seemed to be due to the cold snap that hit in June and was also likely spurred by the mid-year clearances – where household goods, clothing, footwear and accessories and other retailing all recorded rises.
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