Australian retail sales volumes fell 0.4 per cent (seasonally adjusted) in March quarter 2024, according to figures released today by the Australian Bureau of Statistics (ABS).
This follows a rise of 0.4 per cent in December quarter 2023 and a fall of 0.2 per cent in September quarter 2023.
Ben Dorber, ABS head of retail statistics, said: "Retail sales volumes fell for the fifth time in the past six quarters as consumers cut back on buying large household items such as furniture and electronic goods.
"The only rise in volumes over the past 18 months was the December quarter last year as extensive discounting from Black Friday sales boosted volumes."
Retail sales volumes were down 1.3 per cent compared to March quarter 2023. This is the fourth straight fall in volumes when compared to the same time last year.
| Quarter | Seasonally Adjusted ($m) | Trend ($m) |
|---|---|---|
| Mar Qtr-18 | 87,918.5 | 87,916.2 |
| Jun Qtr-18 | 88,530.6 | 88,431.4 |
| Sep Qtr-18 | 88,784.8 | 88,731.0 |
| Dec Qtr-18 | 88,686.6 | 88,802.6 |
| Mar Qtr-19 | 88,896.1 | 88,793.8 |
| Jun Qtr-19 | 88,760.5 | 88,899.7 |
| Sep Qtr-19 | 88,935.8 | 88,984.5 |
| Dec Qtr-19 | 89,207.1 | 88,884.9 |
| Mar Qtr-20 | 90,337.2 | |
| Jun Qtr-20 | 86,807.6 | |
| Sep Qtr-20 | 92,482.1 | |
| Dec Qtr-20 | 94,519.1 | |
| Mar Qtr-21 | 94,141.4 | |
| Jun Qtr-21 | 94,442.5 | |
| Sep Qtr-21 | 90,690.5 | |
| Dec Qtr-21 | 97,795.2 | |
| Mar Qtr-22 | 98,843.5 | |
| Jun Qtr-22 | 99,616.6 | |
| Sep Qtr-22 | 99,642.0 | 99,574.4 |
| Dec Qtr-22 | 99,286.7 | 99,422.9 |
| Mar Qtr-23 | 99,193.2 | 98,891.7 |
| Jun Qtr-23 | 98,148.0 | 98,389.9 |
| Sep Qtr-23 | 97,911.1 | 98,115.3 |
| Dec Qtr-23 | 98,310.5 | 98,018.9 |
| Mar Qtr-24 | 97,879.1 | 98,020.7 |
Trend estimates from March 2020 to June 2022 are not available due to the degree of disruption and volatility caused by COVID-19. Trend estimates throughout the pandemic period are likely to be unhelpful and potentially misleading for users in interpreting underlying trend in retail activity.
Retail volumes on a per capita basis fell for a seventh straight quarter (-1.0 per cent), down 3.6 per cent compared to this time last year.
"Per capita volumes show retail turnover after the effects of inflation and population growth have been accounted for. Following an unprecedented seven straight falls, it is very clear how much consumers have pulled back on spending in response to cost of living pressures over the past two years.
"With persistent price inflation on non-discretionary essentials like healthcare, education and housing, discretionary retail spending has been squeezed," Mr Dorber said.
| Quarter | Seasonally Adjusted (m) | Trend (m) |
|---|---|---|
| Mar Qtr-18 | 3,536.3 | 3,536.0 |
| Jun Qtr-18 | 3,547.0 | 3,542.7 |
| Sep Qtr-18 | 3,542.3 | 3,540.7 |
| Dec Qtr-18 | 3,525.6 | 3,530.4 |
| Mar Qtr-19 | 3,521.5 | 3,517.5 |
| Jun Qtr-19 | 3,504.2 | 3,508.7 |
| Sep Qtr-19 | 3,496.3 | 3,498.4 |
| Dec Qtr-19 | 3,494.3 | 3,481.6 |
| Mar Qtr-20 | 3,528.1 | |
| Jun Qtr-20 | 3,385.1 | |
| Sep Qtr-20 | 3,607.8 | |
| Dec Qtr-20 | 3,686.5 | |
| Mar Qtr-21 | 3,673.2 | |
| Jun Qtr-21 | 3,677.6 | |
| Sep Qtr-21 | 3,528.0 | |
| Dec Qtr-21 | 3,793.6 | |
| Mar Qtr-22 | 3,818.5 | |
| Jun Qtr-22 | 3,829.9 | |
| Sep Qtr-22 | 3,808.3 | 3,806.2 |
| Dec Qtr-22 | 3,772.4 | 3,778.0 |
| Mar Qtr-23 | 3,746.6 | 3,734.6 |
| Jun Qtr-23 | 3,683.6 | 3,692.3 |
| Sep Qtr-23 | 3,650.1 | 3,659.6 |
| Dec Qtr-23 | 3,646.7 | 3,634.9 |
| Mar Qtr-24 | 3,610.0 | 3,616.1 |
Trend estimates from March 2020 to June 2022 are not available due to the degree of disruption and volatility caused by COVID-19. Trend estimates throughout the pandemic period are likely to be unhelpful and potentially misleading for users in interpreting underlying trend in retail activity.
Retail prices rose 0.6 per cent this quarter, up from a 0.2 per cent rise in the December quarter, based on data from the latest Consumer Price Index.
| Quarter | Chain Volume Measures (%) | Retail Prices (%) |
|---|---|---|
| Mar Qtr-20 | 1.3 | 1.4 |
| Jun Qtr-20 | -3.9 | 1.2 |
| Sep Qtr-20 | 6.5 | 0.8 |
| Dec Qtr-20 | 2.2 | 0.6 |
| Mar Qtr-21 | -0.4 | 0.3 |
| Jun Qtr-21 | 0.3 | 0.4 |
| Sep Qtr-21 | -4.0 | -0.1 |
| Dec Qtr-21 | 7.8 | 1.0 |
| Mar Qtr-22 | 1.1 | 1.8 |
| Jun Qtr-22 | 0.8 | 2.0 |
| Sep Qtr-22 | 0 | 2.1 |
| Dec Qtr-22 | -0.4 | 1.4 |
| Mar Qtr-23 | -0.1 | 0.5 |
| Jun Qtr-23 | -1.1 | 1.0 |
| Sep Qtr-23 | -0.2 | 0.7 |
| Dec Qtr-23 | 0.4 | 0.2 |
| Mar Qtr-24 | -0.4 | 0.6 |
The fall in retail volumes was driven mostly by the fall in household goods retailing (-2.9 per cent), completely reversing last quarter's 2.3 per cent rise.
"Consumers spent big on household goods during the pandemic period, with strong sales volumes growth for furniture and electrical goods peaking in December quarter 2021. Since then, this industry has been the most affected by rising cost of living pressures with retail sales volumes falling in seven of the nine quarters since that peak," Mr Dorber said.
Department stores (-0.4 per cent) was the only other industry to record a fall.
Clothing, footwear and personal accessory retailing (+1.3 per cent) recorded the largest rise in volumes, followed by other retailing (+0.5 per cent) and cafes restaurants and takeaway food services (+0.3 per cent).
Food retailing remained unchanged.
Most states and territories recorded a fall in retail volumes this quarter. The Northern Territory (+0.5 per cent) and Tasmania (+0.3 per cent) were the only states or territories to record a rise.
