Retailers in Australia have recorded their strongest performance in five years due to strong retail trade figures in 2013, according to the Australian National Retailers Association (ANRA).
ANRA analysed figures released this week (February 6) by the Australian Bureau of Statistics and found retail turnover increased by 3.2 per cent to reach more than $8.1 billion in 2013.
ANRA Chief Executive Officer Margy Osmond explained the key drivers for this growth were food-based sub sectors. Cafes, restaurants and takeaway services increased year-on-year growth by 10 per cent.
“Today’s result continues the run of positive results for the sector which is now experiencing its eighth consecutive month of gains. Most states are now tracking at around six to seven per cent year-on-year growth in turnover which is a positive sign for the sector’s ongoing success in 2014,” said Mrs Osmond.
While the fashion and accessories sub-sector recorded a fall in spend value, volume of sales had actually increased. This shows discounts and sales over the Christmas period may have affected how much consumers are spending but encouraged buying activity.
National Retail Association Chief Executive Officer Trevor Evans has also welcomed the impressive retail growth, particularly over the Christmas period. Businesses often rely on a busy December period to bridge the quieter times of the year.
“This result will give many businesses the breathing space they need to survive and grow throughout 2014 – and that’s a great outcome for the overall economy and for local jobs,” Mr Evans said.
If you recorded a strong year in sales last year, now could be the time to start thinking about expanding your business or joining new markets.
Before making the transition into larger enterprise opportunities, you may wish to contact professional retail consultants for specialist advice and guidance on expansion techniques and processes.
For more information, contact Retail Oasis today.
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