Black Friday boosts November retail spend

Black Friday boosts November retail spend

According to the Australian Bureau of Statistics (ABS), retail turnover increased by 0.4 percent in November 2018, sitting pretty at 0.1 percent higher than the previous month.

"Both of these industries were impacted by strong promotional activity in the November month, including Black Friday sales."

Singapore's total retail sales value in November 2018 was estimated at 3.8 billion Singapore dollars (about 2.81 billion USA dollars).

The authority said excluding motor vehicles, retail sales of last November dropped 0.2 percent year-on-year but rose 1.4 percent month-on-month. Takings slid by 22.1 per cent, against a high base from major mobile phone launches in the same period the year prior.

Australian retail sales jumped to the highest in five months in November boosted by pre-Christmas shopping, an indication private consumption bounced in the final quarter of 2018. The Australian dollar has since spiked over 0.2% to 72 U.S. cents. There were falls in the Northern Territory (-0.9 per cent), and Tasmania (-0.2 per cent).

The trend estimate for Australian retail turnover rose 0.2 per cent in November 2018, following a 0.2 percent rise in October 2018.

Mr Faulkner said there were also slight increases for food retailing (0.2pc) and department stores (0.4pc), but declines for restaurant and takeaway services (-0.1pc).

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For the month of November, household goods retailing spiked 1.2% [seasonally adjusted], with electrical and electronic goods retailing jumping 3.3%.

The slowdown leaves annual sales growth at its lowest levels since around May 2018.

Just this month apparel retailer Kathmandu posted weaker-than-expected Christmas sales in Australia and New Zealand, disappointing investors who sent its shares to 10-month lows.

Given what was seen during that period, there's a clear risk a similar scenario plays out on this occasion.

Better-than-expected results stem from Black Friday and Click Frenzy sales, with household goods and clothing amongst the most in demand segments. Reports from retailers suggest sales in December were weaker than in November.

"As such, markets will likely interpret any strong November Retail Sales outcome with a degree of caution - a solid result could easily be offset by a weaker December result due to these shifting seasonal spending patterns".

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