retail-sales-down
Lockdown measures drive sales down. Image – Canva
  • Ongoing lockdown measures are at the root of continued retail sales decline
  • The most significant impact was felt in the ACT with a 19.9% retail sales fall
  • ABS released retail turnover data for August this week

In the third consecutive decline in monthly retail turnover, Australian retail sales declined 1.7% in August according to data released this week by the Australian Bureau of Statistics (ABS).

Ben James, Director of Quarterly Economy Wide Surveys at the ABS attributes the retail sales fall to ongoing lockdowns.

“Retail turnover continues to be negatively impacted by lockdown restrictions, with each of the eastern mainland states experiencing falls in line with their respective level of restrictions,” Mr James said.

Monthly retail turnover nationally
ABS-retail-sales
Source – ABS

New South Wales has been hit hard with a 3.5% retail sales drop during what was another full month in lockdown. The state currently sits at its lowest level of retail turnover since the onset of the pandemic in April 2020.

Victoria was placed into its ongoing lockdown on August 5. These restrictions are at the root of a 3% decline in retail sales for the month.

The ACT experienced the most staggering results with heavy restrictions creating a 19.9% fall in sales.

Monthly retail turnover by state and territory
ABS-retail-sales
Source – ABS

“In direct contrast, states with no lockdowns performed well with Western Australia and South Australia enjoying strong rises as physical stores were open for trade,” Mr James explained.

With no lockdown measures in place, Western Australia saw sales spring up by 2.8% in August.

South Australia bounced back strongly from a lockdown in July with a 6.6% increase in monthly sales in August.

Impact by industry

Lockdown restrictions restrict the opening of non-essential stores which heavily impacts retail trade for many industries.

The hardest hit was the clothing, footwear and personal accessory retailing which fell 15.7% nationally in August.

Food retailing saw the largest rise as food retailers are generally able to operate under lockdown restrictions.

Monthly retail turnover by industry
ABS-retail-sales
Source – ABS



You May Also Like

Cost of living dampens commercial retail property outlook

Many retail property investments likely to continue softening during 2023 according to Herron Todd White

EG’s Private Wealth division purchases tavern and liquor store for $19.29M

Tenanted by the Coles Group on a 20-yr lease

Aventus and HomeCo Daily Needs REIT to merge

Combined portfolio worth over $4 billion

Primewest acquires Byford Village Shopping Centre for $34M

The purchase adds to the $254 million Matrix Trust portfolio

Experts Corner by The Property Tribune

Ko & NPA partner to launch several co-owned luxury properties at Mermaid Beach, Gold Coast

Ko's partnership with NPA Projects provides more opportunities to co-own off-the-plan holiday residences, including exclusive Gold Coast properties

Continue reading

Top Articles

Expert tips on how to be a successful property investor

Property expert and buyer's agent, Lloyd Edge, shares his insights.

Australian commercial property update: Industrial and tourism assets lead the pack in trying times

Commercial assets have faced volatility recently, driven by financing changes and demand fluctuations from institutions and funds.

WA has emerged as a property investment hub, and why that's a good thing

Eastern investors chase Perth's affordability, doubling the distance between home and investment in 2023, reveals MCG research.