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Australian Retail Turnover Plummets 2.7% in December 2023, Reflecting Impact of Black Friday Sales

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Australian retail turnover experiences a significant decline of 2.7% in December 2023, following Black Friday sales. Decrease driven by a shift in consumer spending patterns as shoppers take advantage of discounts. Retailers report slow trading conditions in early December, but sales pick up again during Christmas and Boxing Day sales. Food retailing is the only sector to see a slight increase. Retail turnover falls across all states and territories. Additional information to be released on February 6th, 2024. Gratitude expressed to participating businesses.

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