Australia retail sales rose 2.0% mom to AUD 36.5B in November, above expectation of 1.2% mom. That followed a fell of -0.4% mom in October.
Robert Ewing, ABS head of business statistics, attributed this surge to the impact of Black Friday sales. He noted, “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.”
Ewing further explained: “The strong rise suggests that consumers held back on discretionary spending in October to take advantage of discounts in November.” Additionally, he observed that shoppers might have advanced some of their Christmas shopping to November, which typically occurs in December.
