The latest Mastercard SpendingPulse™, which measures in-store and online retail sales across all forms of payment, found that sales were also up 32.7 per cent on pre-pandemic levels with all retail categories continuing to record significant year-on-year sales growth.
Lodging recorded the biggest increase in trade in September, up 118.4 per cent compared to 12 months prior, followed up by jewellery (up 113.8 per cent), apparel (up 95.2 per cent), electronics (up 74.2 per cent) and home furnishings (up 51.4 per cent).
Australian Retailers Association chief executive Paul Zahra said consumers are continuing to spend in the face of cost-of-living pressures and that’s likely to continue over the festive trading period.
“Retail sales continue to go from strength to strength, however the Delta lockdowns of 2021 are the driving factor behind the substantial growth we’re seeing in the year-on-year comparison,” he said.
“It’s pleasing to see many retailers build strong momentum as they enter their most critical time of year — our holiday sales predictions with Roy Morgan show Australians will spend nearly $64 billion in the lead up to Christmas, up 3 per cent on last year.
“While consumers are challenged by rising interest rates and inflation, that hasn’t impacted spending here just yet. We appear to be experiencing a delayed impact from those factors, with a softening of sales more likely to occur in 2023.
“The biggest issue preventing retailers from trading at their full potential is staff shortages, with job vacancies increasing, and now running at over 46,000. Businesses are trying to recruit as many frontline staff as possible as they look to cover the increased demand over Christmas, but the reality is many of those positions will go unfilled.”
