As at May 2015, ABS data showed Victoria’s retail turnover growth had eased slightly. Retail trade in Victoria rose by 5.0% year-on-year; down from the 5.7% growth recorded as at May 2014. Australian retail trade grew at a moderate rate of just 1.2% y-o-y as at May 2015, compared to 8.2% recorded 12 months ago, reflecting the impacts of the slowing resource states.
All retail trade sectors in Victoria posted positive year-on-year growth as at May 2015. Clothing & footwear retail sales grew by 4.3% up from 0.8% a year ago, while spending in department stores saw a turnaround in retail sales with 3.1% growth recorded, compared to -1.3%, a year ago. Whilst retail spending in cafes & restaurants grew by 4.4%, spending levels were lower than the 5.2% growth a year ago. Personal goods retailing also increased, growing by 5.1% driven by the pharmaceutical and cosmetics sub-sector.
Source : Knight Frank