Retailers in Australia may be interested in the latest data from global research firm RFi, which reveals that retail spending in the country remained “relatively unchanged” during the period between May and June this year.
In their monthly Australian Mortgage Market Wrap report, RFi retail research showed that retail sales stayed steady between May and June. This follows after a 0.2 per cent rise in May, and a fall of 0.1 per cent during April.
However, RFi analysis states that the Reserve Bank of Australia’s decision to cut the official cash rate down to a record low of 2.5 per cent could have an effect on economic growth within Australia’s domestic sectors.
In the month of June, there were several sectors of the retail industry which saw some positive movements. Cafes, restaurants and takeaway food services recorded an increase of 0.9 per cent in retail sales.
Household goods retailing and food retailing also saw respective increases of 0.3 per cent and 0.1 per cent during June. However, these gains were offset by other sectors of the industry. Other retailing decreased by 1.1 per cent and clothing, footwear and personal accessory retailing fell by 0.2 per cent.
When it comes to individual state results, retail sales growth proved to be the most noticeable in the Australian Capital Territory, which was up by 1.3 per cent between May and June. South Australian retail growth also rose (by 0.3 per cent), as did Queensland (0.1 per cent) and Victoria (also 0.1 per cent).
In contrast, RFi data showed that Western Australia, the Northern Territory and Tasmania all saw falls in their level of retail sales by 0.4 per cent, 0.4 per cent and 0.1 per cent, respectively.
For those looking to enhance their retail strategy, research such as this can provide a valuable insight into which sectors of the industry are seeing the most success.