After promising rise in June.
Retail turnover declined 0.1% for July, following a 0.4% rise in June, according to the latest ABS retail trade figures. Department stores saw a 0.2% fall and household goods retailing was the only industry to experience a rise (0.1%), alongside food retailing (0.3%).
National Retail Association (NRA) CEO Dominique Lamb said the July sales slump did not bode well for a sector that has struggled throughout much of 2019.
“The July results are not good news for retailers, we were hopeful of far better figures following a strong sales performance for June,” she said.
“A drop in turnover shows that consumer confidence remains stubbornly low, despite measures such as the personal tax cuts and reduction in interest rates.
“It’s important during this period that people support retailers, particularly local small businesses, as we begin the march towards Christmas. The NRA urges Aussie shoppers to not shy away from spending any extra money they’ve received in tax cuts or the drop in interest rates at their local retail outlet.”