Australian retail sales receive a boost from Black Friday sales

Retailers get a boost from Black Friday sales, as shoppers bring forward Christmas spending

SINGAPORE retailers' performance turned negative in November 2018, despite some uplift from Black Friday shopping, according to figures from the Department of Statistics (SingStat) on Friday.

Cumulative credit card spending through the CBA's network fell 3.7% between November to early January compared to the levels of a year earlier, underscoring the risk of weakness in the December retail sales report.

"Household goods retailing, at 1.2%, led the rises", he said.

Sales at petrol service stations increased 3.1 per cent as a result of higher petrol prices, but recorded a small decline of 0.7 per cent in sales volume after removing the price effect.

Australian retail sales topped forecasts in November, recording the largest monthly percentage increase since April a year ago.

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

Ben Faulkner, the acting director of quarterly economy-wide surveys at the ABS noted that the highest performing shopping categories for the month, namely, clothing, footwear and personal accessories, benefitted from in-store and online sales during November.

Excluding food sales, turnover increased by 0.6% after seasonal adjustments, the largest increase since August 2018.

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

In seasonally adjusted terms there were spending jumps in New South Wales (0.8 per cent), Queensland (0.4 per cent), Western Australia (0.6 per cent), the Australian Capital Territory (1.6 per cent), and Victoria (0.1 per cent).

This shouldn't come as a surprise to most as 57 percent of Australians planned to shop both in-store and online during Black Friday, while a further 37 percent meant to shop Black Friday and Cyber Monday sales exclusively online.

Even after motor vehicles were taken out of the picture, sales were still down by 0.2 per cent.

The yield on Australia's benchmark 10-year note, which moves inversely to its price, traded flat at 2.315 percent, the yield on the long-term 30-year bond remained steady at 2.843 percent and the yield on short-term 2-year stood at 1.899 percent by 04:00GMT.

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