It was another record-breaking month for retail sales with $33.9 billion spent in stores and online in April - a 9.6% increase on a year ago – according to figures released last week by the Australian Bureau of Statistics.
It’s pleasing to see businesses enjoy increased turnover, with the Easter long weekend no doubt boosting sales. However, the record result is a bit of an anomaly due to inflationary pressures, and the higher prices we’re seeing across the economy – particularly in the food industries. While sales are increasing, so too are business costs, so the results are not necessarily an accurate reflection of business performance.
The mid-year sales are now in full swing andour forecasts with Roy Morganshow Australians will spend $8.8 billion in the sales and a large majority (83%) say they plan on spending the same or more than they did last year. Our message to consumers is to make a day of it and head into the CBD to do your shopping, given foot traffic remains well below pre-pandemic levels in our capital cities.
Labor has reached the 76 seats it needs to govern in their own right, andwe welcome the new Federal Ministry announced yesterday. The ARA will be reaching out to the relevant Ministers to advance the issues that are important to our members, particularly around labour and skills shortages.
Just a reminder that First Responders is coming up on Thursday 30 June, and we remind members tosign upand register their offers. Thank you to those who have already submitted their discounts and for acknowledging our frontline heroes and everything they do to keep our communities safe.
As always, our membership team is here to help and can be contacted via email or on 1300 368 041.